Using vertical analysis, prepare and Income Statement. (This is all the information) (indirect method)
This mean preparation of Income statement by using vertical analysis
Vertical analysis: - Vertical analysis is the proportional analysis of a financial statement, where each line item on a financial statement is listed as a percentage of another item. This means that every line item on an income statement is stated as a percentage of sales, while every line item on a balance sheet is stated as a percentage of total assets/total liabilities.
The statements prepared by following vertical analysis known as common-size statement.
Robust Robots Inc. | |||||
For the Year Ended December 31, 2019 and 2018 | |||||
Common Size Income Statement | |||||
2019 | 2018 | ||||
Particulars | 28-Apr-18 | % | 29-Apr-17 | % | |
Sales | $ 700,000.00 | 100.00% | $ 600,000.00 | 100.00% | |
Cost of goods sold | $ 524,300.00 | 74.90% | $ 420,000.00 | 70.00% | |
Gross profit | $ 175,700.00 | 25.10% | $ 180,000.00 | 30.00% | |
Operating Expenses | |||||
Selling and wages expenses | $ 47,290.00 | 6.76% | $ 100,000.00 | 16.67% | |
Rent expenses | $ 20,256.00 | 2.89% | $ 20,000.00 | 3.33% | |
Depriciation expenses | $ 20,000.00 | 2.86% | $ 10,000.00 | 1.67% | |
Total operating expenses | $ 87,546.00 | 12.51% | $ 130,000.00 | 21.67% | |
Income from operations | $ 88,154.00 | 12.59% | $ 50,000.00 | 8.33% | |
Loss on sale of equipment | $ (5,213.00) | -0.74% | |||
Interest expenses | $ (3,656.00) | -0.52% | $ (5,000.00) | -0.83% | |
Increase (Decrease) in operating income | $ (8,869.00) | -1.27% | $ (5,000.00) | -0.83% | |
Income before taxes | $ 79,285.00 | 11.33% | $ 45,000.00 | 7.50% | |
Federal income taxes | $ (23,786.00) | -3.40% | $ (13,500.00) | -2.25% | |
Net Income | $ 55,500.00 | 7.93% | $ 31,500.00 | 5.25% |
Using vertical analysis, prepare and Income Satement. (this is all the infomation) (indirect method) Robust Robots,...
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Prepare a Statement of Cash Flow for the current year using the indirect method Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, plant, and...
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Pepare a Cash Flow Statement using the indirect method. (all information is given). Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 Assets 2019 2018 Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total...
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Using vertical analysis, prepare an income statement. (this is all the information given) (indirect method) thats all info i have, it says indirect method on cash flow only Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500...
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