Homework Answers
Answer-1)-
| BENSON COMPANY | ||||
| HORIZONTAL ANALYSIS | ||||
| INCOME STATEMENT | ||||
| PARTICULARS | 2019 | 2018 | Difference | % |
| $ | $ | $ | ||
| Sales | 201100 | 181100 | 20000 | 11.0 |
| Less-Cost of good sold | 142600 | 120600 | 22000 | 18.2 |
| Gross profit | 58500 | 60500 | -2000 | -3.3 |
| Less- Operating expenses | ||||
| Selling expenses | 20700 | 18700 | 2000 | 10.7 |
| Administrative expenses | 12500 | 14500 | -2000 | -13.8 |
| Total operating expenses | 33200 | 33200 | 0 | 0.0 |
| Operating income/(loss) | 25300 | 27300 | -2000 | -7.3 |
| Less- Interest expense | 3500 | 5500 | -2000 | -36.4 |
| Income before taxes | 21800 | 21800 | 0 | 0.0 |
| Less- Income tax expense | 6900 | 3200 | 3700 | 115.6 |
| Net Income | 14900 | 18600 | -3700 | -19.9 |
2)-
| BENSON COMPANY | ||||
| HORIZONTAL ANALYSIS | ||||
| INCOME STATEMENT | ||||
| PARTICULARS | 2019 | % | 2018 | % |
| $ | $ | |||
| Sales | 201100 | 100.0 | 181100 | 100.0 |
| Less-Cost of good sold | 142600 | 70.9 | 120600 | 66.6 |
| Gross profit | 58500 | 29.1 | 60500 | 33.4 |
| Less- Operating expenses | ||||
| Selling expenses | 20700 | 10.3 | 18700 | 10.3 |
| Administrative expenses | 12500 | 6.2 | 14500 | 8.0 |
| Total operating expenses | 33200 | 16.5 | 33200 | 18.3 |
| Operating income/(loss) | 25300 | 12.6 | 27300 | 15.1 |
| Less- Interest expense | 3500 | 1.7 | 5500 | 3.0 |
| Income before taxes | 21800 | 10.8 | 21800 | 12.0 |
| Less- Income tax expense | 6900 | 3.4 | 3200 | 1.8 |
| Net Income | 14900 | 7.4 | 18600 | 10.3 |
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Income statements for Finch Company for 2018 and 2019 follow: FINCH COMPANY Income Statements 2019 2018...
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JORDAN COMPANY Income Statements 2019 Sales $ 200,700 Cost of goods sold 142,300 Selling expenses 21,900...
JORDAN COMPANY Income Statements 2019 Sales $ 200,700 Cost of goods sold 142,300 Selling expenses 21,900 Administrative expenses 12,600 Interest expense 3,900 Total expenses $180,700 Income before taxes 20,000 Income taxes expense 6,400 Net income $ 13,600 2018 $180,700 120, 300 19,900 14,600 5,900 $160,700 20,000 3,600 $ 16,400 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019. b. Perform a vertical analysis, showing each income statement component as a...
Required Perform a horizontal analysis, showing the percentage change in each income statement component between 2018...
Required
Perform a horizontal analysis, showing the percentage change in
each income statement component between 2018 and 2019.
Perform a vertical analysis, showing each income statement
component as a percentage of sales for each year.
CAMPBELL COMPANY Income Statements 2019 Sales $ 201,500 Cost of goods sold 143,200 Selling expenses 20,300 Administrative expenses 12,600 Interest expense 3,100 Total expenses $179,200 Income before taxes 22,300 Income taxes expense 5,900 Net income $ 16,400 2018 $181,500 121,200 18,300 14,600 5,100 $159,200 22,300...
Check my workCheck My Work button is now enabled2 Item 1 Item 1 1.66 points Income...
Check my workCheck My Work button is now enabled2 Item 1 Item 1 1.66 points Income statements for Perez Company for 2018 and 2019 follow: PEREZ COMPANY Income Statements 2019 2018 Sales $ 201,600 $ 181,600 Cost of goods sold 142,100 120,100 Selling expenses 21,200 19,200 Administrative expenses 12,300 14,300 Interest expense 3,800 5,800 Total expenses $ 179,400 $ 159,400 Income before taxes 22,200 22,200 Income taxes expense 5,300 3,800 Net income $ 16,900 $ 18,400 Required Perform a horizontal...
Income statements for Stuart Company for 2018 and 2019 follow. STUART COMPANY Income Statements 2019 Sales $ 201, 688 Cost of goods sold 143, 100 Selling expenses 21,308 Administrative expenses 12,400 Interest expense 3,000 Total expenses $179,800 Income before taxes 21,880 Income taxes expense 5,700 Net Income $ 16,100 2018 $181,600 121, 100 19,300 14,488 5,000 $159,888 21,800 3,580 $ 18,300 Required a. Perform a horizontal analysis, showing the percentage change in each Income statement component between 2018 and 2019....
Income statements for Jordan Company for 2018 and 2019 follow: 2018 JORDAN COMPANY Income Statements 2019 Sales $200,100 Cost of goods sold 142,700 Selling expenses 21,900 Administrative expenses 12,300 Interest expense 3,800 Total expenses $180,700 Income before taxes 19,400 Income taxes expense 6,400 Net income $ 13,000 $180, 100 120,700 19,900 14,300 5,800 $160, 700 19,400 3,000 $ 16,400 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019 b. Perform...
Income statements for Franklin Company for 2018 and 2019 follow: FRANKLIN COMPANY Income Statements 2019 Sales $200,400 Cost of goods sold 142,200 Selling expenses 20,800 Administrative expenses 12,900 Interest expense 3,200 Total expenses $179,100 Income before taxes 21,300 Income taxes expense 5,600 Net income $ 15,700 2018 $180, 400 120,200 18,800 14,900 5,200 $159,100 21,300 3,100 $ 18, 200 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019. b. Perform...
Income statements for Balrd Company for 2018 and 2019 follow BAIRD COMPANY Income Statements 2819 2018 $181,60e Sales $201,600 Cost of goods sold Selling expenses Administrative expenses 143,eee 21, see 12,70e 3,200 $180,400 21, 20e 7,eee 121, eee 19, see 14,7ee 5,2ee $160,4ee Interest expense Total expenses Income before taxes 21, 280 3,7ee $ 17,see Income taxes expense Net income $ 14,200 Required a. Perform a hortzontal analysis, showing the percentage change in each Income statement component between 2018 and...
Income statements for Vernon Company for 2018 and 2019 follow: VERNON COMPANY Income Statements 2019 Sales $ 201,400 Cost of goods sold 143,400 Selling expenses 20,500 Administrative expenses 12,500 Interest expense 3,500 Total expenses $ 179,900 Income before taxes 21,500 Income taxes expense 6,300 Net income $ 15,200 2018 $181,400 121,400 18,500 14,500 5,500 $ 159,900 21,500 3,200 $ 18,300 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019. b....
JORDAN COMPANY Income Statements 2019 Sales $ 200,700 Cost of goods sold 142,300 Selling expenses 21,900 Administrative expenses 12,600 Interest expense 3,900 Total expenses $180,700 Income before taxes 20,000 Income taxes expense 6,400 Net income $ 13,600 2018 $180,700 120, 300 19,900 14,600 5,900 $160,700 20,000 3,600 $ 16,400 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019. b. Perform a vertical analysis, showing each income statement component as a...
Required
Perform a horizontal analysis, showing the percentage change in
each income statement component between 2018 and 2019.
Perform a vertical analysis, showing each income statement
component as a percentage of sales for each year.
CAMPBELL COMPANY Income Statements 2019 Sales $ 201,500 Cost of goods sold 143,200 Selling expenses 20,300 Administrative expenses 12,600 Interest expense 3,100 Total expenses $179,200 Income before taxes 22,300 Income taxes expense 5,900 Net income $ 16,400 2018 $181,500 121,200 18,300 14,600 5,100 $159,200 22,300...
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