1) The common size income statement shows each income statement item as a percentage of a....
1) The common size income statement shows each income statement item as a percentage of
| a. |
gross income |
|
| b. |
net income |
|
| c. |
gross sales |
|
| d. |
net sales |
2) The debt to assets ratio
| a. |
measures the percentage of assets that are financed |
|
| b. |
measures the percentage of assets that were paid for using S/E |
|
| c. |
shows the percentage of assets that are paid for |
|
| d. |
measures only current assets to current liabilities |
2) What does, "trading on the equity," mean?
| a. |
borrowing money at a lower rate and using it to make money at a higher rate |
|
| b. |
borrowing money at any rate and using it to make the same rate |
|
| c. |
borrowing money at a lower rate and using it to make money at the same rate |
|
| d. |
borrowing money at a higher rate and using it to make money at a lower rate |
Homework Answers
1) The common size income statement shows each income statement item as a percentage of
|
2) The debt to assets ratio
| a. |
measures the percentage of assets that are financed |
2) The debt to assets ratio
| a. |
measures the percentage of assets that are financed |
Add Answer to:
1) The common size income statement shows each income statement
item as a percentage of
a....
1) When preparing a common size balance sheet, each item is presented as a percentage of...
1) When preparing a common size balance sheet, each item is presented as a percentage of a. net sales b. total assets c. total equity d. net income 2) net sales - C/G/S) / net sales equals a. net profit margin b. gross income c. net income d. gross profit margin 3) How is net profit margin calculated? a. net income / net sales b. gross profit / net sales c. net income / gross sales d. gross profit /...
1.) Express the following comparative income statements in common-size percents. Using the common-size percentages, which item...
1.) Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Reason for Income Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year % % Sales Cost of goods sold 770,000 $635,000 284,400 568,100 Gross profit Operating expenses Net...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Reason for Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Reason for Income Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year % $ % $ Sales Cost...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Income Reason for Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $ 740,000 $ 670,000 Cost of goods sold 568, 100 288,800 Gross...
To convert an income statement to a common-size income statement, each line item should be stated...
To convert an income statement to a common-size income statement, each line item should be stated as a percentage of: pretax income. revenue. net income.
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Reason for Income Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % % Sales $ 790,000 $ 645,000 Cost of goods sold 565,400 299 800 Gross profit...
Che Express the following comparative income statements in common-size percents. Using the common-size percentages, which item...
Che Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) the GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ Sales $ 795,000 $ 690,000 Cost of goods sold 568,100 286,600 Gross...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $795,000 100.0 $665,000 Cost of goods sold 568,100 284,400 Gross profit 226,900 380,600 Operating expenses 129,200 237,200 Net income $97,700...
Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal...
Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $730,000 $655,000 Cost of goods sold 568,100 284,400 Gross profit 161,900 370,600 Operating expenses 130,400 266,000 Net income $31,500 $104,600 Using the common-size percentages, which item is most responsible for the decline in net income?
1.) Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Reason for Income Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year % % Sales Cost of goods sold 770,000 $635,000 284,400 568,100 Gross profit Operating expenses Net...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Reason for Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Reason for Income Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year % $ % $ Sales Cost...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Income Reason for Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ % Sales $ 740,000 $ 670,000 Cost of goods sold 568, 100 288,800 Gross...
Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Reason for Income Statement Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % % Sales $ 790,000 $ 645,000 Cost of goods sold 565,400 299 800 Gross profit...
Che Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) the GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ Sales $ 795,000 $ 690,000 Cost of goods sold 568,100 286,600 Gross...
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