Homework Answers
| Vertical Analysis - Income Statement NorthStar | ||||||
| Vertical rend Percentage | ||||||
| Particulars | 2016 | 2015 | 2014 | 2016 | 2015 | 2014 |
| Sales | $1,428,000.00 | $1,202,000.00 | $1,059,000.00 | 100.00% | 100.00% | 100.00% |
| Cost of goods sold | $974,000.00 | $858,000.00 | $773,000.00 | 68.21% | 71.38% | 72.99% |
| Gross Profit from sales | $454,000.00 | $344,000.00 | $286,000.00 | 31.79% | 28.62% | 27.01% |
| Operating expenses | $290,000.00 | $235,000.00 | $194,000.00 | 20.31% | 19.55% | 18.32% |
| income before tax | $164,000.00 | $109,000.00 | $92,000.00 | 11.48% | 9.07% | 8.69% |
| Income tax expense | $49,000.00 | $32,000.00 | $27,000.00 | 3.43% | 2.66% | 2.55% |
| Net Income | $115,000.00 | $77,000.00 | $65,000.00 | 8.05% | 6.41% | 6.14% |
| Vertical Analysis - BalancesheetNorthStar | ||||||
| Vertical rend Percentage | ||||||
| Particulars | 2016 | 2015 | 2014 | 2016 | 2015 | 2014 |
| Cash | $186,000.00 | $176,000.00 | $156,000.00 | 12.56% | 13.74% | 13.77% |
| Account receivaabe Net | $132,000.00 | $118,000.00 | $103,000.00 | 8.91% | 9.21% | 9.09% |
| Prepaid Expense | $251,000.00 | $204,000.00 | $179,000.00 | 16.95% | 15.93% | 15.80% |
| Merchandised Inventory | $633,000.00 | $532,000.00 | $460,000.00 | 42.74% | 41.53% | 40.60% |
| Plant Asset, Net | $279,000.00 | $251,000.00 | $235,000.00 | 18.84% | 19.59% | 20.74% |
| Total Asset | $1,481,000.00 | $1,281,000.00 | $1,133,000.00 | 100.00% | 100.00% | 100.00% |
| Accout Payable | $869,000.00 | $743,000.00 | $694,000.00 | 58.68% | 58.00% | 38.01% |
| Long Term Note Payablee | $200,000.00 | $181,000.00 | $150,000.00 | 13.50% | 14.13% | 8.21% |
| Share Cpaital (100000 issued) | $281,000.00 | $248,000.00 | $212,000.00 | 18.97% | 19.36% | 11.61% |
| Retained Earning | $131,000.00 | $109,000.00 | $770,000.00 | 8.85% | 8.51% | 42.17% |
| Total Liabilities and Equities | $1,481,000.00 | $1,281,000.00 | $1,826,000.00 | 100.00% | 100.00% | 100.00% |
Vertical tren between cost of goods sold and sales if favourable becasue there is reduction in % of cost of goods sold in each year
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The EastTN Company sells computer parts through a retail store
that it operates. The firm’s comparative income statement and
balance sheet for the years 2016 and 2015 are shown below.
1-a.
Complete both a horizontal and a vertical analysis of
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(Round your percentage answers to 1 decimal place. i.e.,
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