Homework Answers
| Ans. 1 | Profit margin = Net income / Net sales * 100 | |||||
| 2017 | $24,500 / $188,000 * 100 | 13.03% | ||||
| 2016 | $5,000 / $154,000 * 100 | 3.25% | ||||
| Ans. 2 | Return on assets = Net income / Average assets * 100 | |||||
| 2017 | $24,500 / $200,500 * 100 | 12.22% | ||||
| 2016 | $5,000 / $182,000 * 100 | 2.75% | ||||
| *Average assets = (Beginning assets + Ending assets) / 2 | ||||||
| 2017 | ($194,000 + $207,000) / 2 | $200,500 | ||||
| 2016 | ($170,000 + $194,000) / 2 | $182,000 | ||||
| Ans. 3 | Total assets turnover = Sales / Average assets | |||||
| 2017 | $188,000 / $200,500 | 0.94 | times | |||
| 2016 | $154,000 / $182,000 | 0.85 | times | |||
| Ans. 4 | Return on Common stockholder's equity = (Net income - Preferred dividends) / Average Common stockholder's equity * 100 | |||||
| 2017 | $24,500 / $87,000 * 100 | 28.16% | ||||
| 2016 | $5,000 / $78,000 * 100 | 6.41% | ||||
| * Average Stockholder's equity = (Beginning equity + Ending equity) / 2 | ||||||
| 2017 | ($79,500 + $94,500) / 2 | $87,000 | ||||
| 2016 | ($76,500 + $79,500) / 2 | $78,000 | ||||
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HW Score: 0%, 0 . Data Table 2015 Variline, Inc. Comparative Income Statement Years Ended December...
92 Financial Statement Analysis 7-22 Analyzing profitability Inc.'s comparative income comparative income statement follows. The 2015...
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Data Table Achieve's Companies Income Statement Years Ended May 31, 2016 and 2015 2016 2015 Net...
Data Table Achieve's Companies Income Statement Years Ended May 31, 2016 and 2015 2016 2015 Net Sales Cost of Goods Sold Interest Expense All Other Expenses 49,200,000 $ 20,800,000 600,000 4,300,000 41,600,000 28,600,000 280,000 7.800,000 Net Income $ 23,500,000 $ 4,920,000 Print Done مطعم مراد امد وممم JmNEWork: Chapter 17 Homework re: 0.92 of 2 pts 2 of 4 (4 complete) HW Score: 52.88% Data Table Achieve's Companies Balance Sheet May 31, 2016 and 2015 Assets 2016 Liabilities 2016 2015...
Chapter 17-3 < 3 of 4 (0 complete) HW Score: 0%, 0 of 36 pts Question Help Score: 0 of 10 pts E17-16 (sim...
Chapter 17-3
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can i get help please Canfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and...
can
i get help please
Canfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 458,000 $ 427,000 Cost of Goods Sold 234,000 217,000 Gross Profit 224,000 210,000 Operating Expenses 134,000 132,000 Income From Operations 90,000 78,000 Interest Expense 13,000 17,000 Income Before Income Tax 77,000 61,000 Income Tax Expense 20,000 24,000 Net Income $ 57,000 $ 37,000 Print Done Canfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 Read the...
McClane Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 $...
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0 Income statement 2016 2015 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes (amounts in thousands) 2017 211,400 $ 182,910 105,000 96,000 106,400 $ 86,910 53,000 46,000 53.400 $ 40,910 5.385 6,459 48,015 $ 34,451 22.617 16. 160 Print Done i Income statement JJUJ 0,435 LESS. Merest expense Income before income taxes 48,015 $ 22,647 25,368 $ 34,451 16,160 Less: Income tax expense Net income 18,291 Additional...
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Selected comparative financial statements of Korbin Company
follow:
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2017, 2016, and
2015
2017
2016
2015
Sales
$
554,143
$
424,519
$
294,600
Cost of goods sold
333,594
269,145
188,544
Gross profit
220,549
155,374
106,056
Selling expenses
78,688
58,584
38,887
Administrative expenses
49,873
37,358
24,452
Total expenses
128,561
95,942
63,339
Income before taxes
91,988
59,432
42,717
Income taxes
17,110
12,184
8,672
Net income
$
74,878
$
47,248
$
34,045
KORBIN COMPANY...
The comparative income statements and additional data for Harmon Decor, Inc., follow: (Click the icon to...
The comparative income statements and additional data for Harmon Decor, Inc., follow: (Click the icon to view the comparative income statements.) (Click the icon to view the additional data.) Read the requirement. Select the formula for each of the following component ratios, then calculate the ratios for 2018 and 2017. (Round ALL of your answers to three decimal places, X.XXX, and do not enter in percentage format. Ignore interest expense in your a Ratio Formula 2018 2017 ROS AT ROA...
Selected comparative financial statements of Apple-Space follow: Apple-Space Comparative Income Statements For Years Ended December 31,...
Selected comparative financial statements of Apple-Space
follow:
Apple-Space
Comparative Income Statements
For Years Ended December 31, 2017, 2016, and
2015
2017
2016
2015
Sales
$
464,983
$
356,215
$
247,200
Cost of goods sold
279,920
225,840
158,208
Gross profit
185,063
130,375
88,992
Selling expenses
66,028
49,158
32,630
Administrative expenses
41,848
31,347
20,518
Total expenses
107,876
80,505
53,148
Income before taxes
77,187
49,870
35,844
Income taxes
14,357
10,223
7,276
Net income
$
62,830
$
39,647
$
28,568
Apple-Space
Comparative Balance Sheets...
92 Financial Statement Analysis 7-22 Analyzing profitability Inc.'s comparative income comparative income statement follows. The 2015 data are given as nceded. 1.2017 11.6% VARSITY, INC Comparative Income Statement Years Ended December 31, 2017 and 2016 Dollars in thousands Net Sales Cost of Goods Sold Selling and Administrative Expenses nterest Expense income Tax Expense Net Income 2017 2016 2015 S 185,000 $ 153,000 96,000 87,000 46,500 39,500 9,50010,500 9,000 $ 21,500 S 7,000 11,500 Additional data Total Assets Common Stockholders' Equity...
Data Table Achieve's Companies Income Statement Years Ended May 31, 2016 and 2015 2016 2015 Net Sales Cost of Goods Sold Interest Expense All Other Expenses 49,200,000 $ 20,800,000 600,000 4,300,000 41,600,000 28,600,000 280,000 7.800,000 Net Income $ 23,500,000 $ 4,920,000 Print Done مطعم مراد امد وممم JmNEWork: Chapter 17 Homework re: 0.92 of 2 pts 2 of 4 (4 complete) HW Score: 52.88% Data Table Achieve's Companies Balance Sheet May 31, 2016 and 2015 Assets 2016 Liabilities 2016 2015...
Chapter 17-3
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Canfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 458,000 $ 427,000 Cost of Goods Sold 234,000 217,000 Gross Profit 224,000 210,000 Operating Expenses 134,000 132,000 Income From Operations 90,000 78,000 Interest Expense 13,000 17,000 Income Before Income Tax 77,000 61,000 Income Tax Expense 20,000 24,000 Net Income $ 57,000 $ 37,000 Print Done Canfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 Read the...
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0 Income statement 2016 2015 Sales revenues Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes (amounts in thousands) 2017 211,400 $ 182,910 105,000 96,000 106,400 $ 86,910 53,000 46,000 53.400 $ 40,910 5.385 6,459 48,015 $ 34,451 22.617 16. 160 Print Done i Income statement JJUJ 0,435 LESS. Merest expense Income before income taxes 48,015 $ 22,647 25,368 $ 34,451 16,160 Less: Income tax expense Net income 18,291 Additional...
Selected comparative financial statements of Korbin Company
follow:
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2017, 2016, and
2015
2017
2016
2015
Sales
$
554,143
$
424,519
$
294,600
Cost of goods sold
333,594
269,145
188,544
Gross profit
220,549
155,374
106,056
Selling expenses
78,688
58,584
38,887
Administrative expenses
49,873
37,358
24,452
Total expenses
128,561
95,942
63,339
Income before taxes
91,988
59,432
42,717
Income taxes
17,110
12,184
8,672
Net income
$
74,878
$
47,248
$
34,045
KORBIN COMPANY...
The comparative income statements and additional data for Harmon Decor, Inc., follow: (Click the icon to view the comparative income statements.) (Click the icon to view the additional data.) Read the requirement. Select the formula for each of the following component ratios, then calculate the ratios for 2018 and 2017. (Round ALL of your answers to three decimal places, X.XXX, and do not enter in percentage format. Ignore interest expense in your a Ratio Formula 2018 2017 ROS AT ROA...
Selected comparative financial statements of Apple-Space
follow:
Apple-Space
Comparative Income Statements
For Years Ended December 31, 2017, 2016, and
2015
2017
2016
2015
Sales
$
464,983
$
356,215
$
247,200
Cost of goods sold
279,920
225,840
158,208
Gross profit
185,063
130,375
88,992
Selling expenses
66,028
49,158
32,630
Administrative expenses
41,848
31,347
20,518
Total expenses
107,876
80,505
53,148
Income before taxes
77,187
49,870
35,844
Income taxes
14,357
10,223
7,276
Net income
$
62,830
$
39,647
$
28,568
Apple-Space
Comparative Balance Sheets...
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