Homework Answers
| net earnings | / | net sales | = | net profit margin % | |
| 2018 | 4,200 | / | 84,000 | = | 5.00% |
| 2017 | 4,050 | / | 82,600 | = | 4.90% |
The higher the net profit margin the better it is.
So it can be said that Net profit margin improved in 2018.
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Hometown Supply Company reported the following information in its comparative financial statements for the fiscal year...
Hometown Supply Company reported the following information in its comparative financial statements for the fiscal year...
Hometown Supply Company reported the following information in its comparative financial statements for the fiscal year ended January 31, 2018: E: (Click the icon to view the data.) Read the requirements. Requirement 1. Compute net profit margin ratio (%) for the years ended January 31, 2018 and 2017. Did it improve or worsen in 2018? Identify the formula, then calculate profit margin for 2018 and 2017. (Round your answers to the nearest hundredth of a percent, X.XX%.) = Net profit...
Kindly answer all the Requirements! Kindly answer all the Requirements Consider the following condensed financial statements...
Kindly answer all the Requirements!
Kindly answer all the Requirements
Consider the following condensed financial statements of Safe Money, Inc. The company's target rate of return is 10% PEE (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) Read the requirements Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 427,928 $ 327,828 $ 227,500 Cost of goods sold 257,613 207,515 145,600 Gross profit 170,315 120,313 81,900 Selling expenses 60,766 45, 240 30,030 Administrative expenses 38,514 28,849 18,883 Total expenses 99, 280 74,089 48,913 Income before taxes 71,035 46,224 32,987 Income tax expense 13,213 9,476 6,696 Net income $ 57,822 $ 36,748 $...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 557,905 $ 427,401 $ 296,600 Cost of goods sold 335,859 267,980 189,824 Gross profit 222,046 159,421 106,776 Selling expenses 79,223 58,981 39, 151 Administrative expenses 50, 211 24,618 Total expenses 129,434 96,592 63,769 Income before taxes 92,612 62,829 43, 007 Income tax...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 479,843 $ 367,599 $ 255, 100 Cost of goods sold 288,865 231,587 163,264 Gross profit 190,978 136,012 91,836 Selling expenses 68,138 50,729 33,673 Administrative expenses 43,186 32,349 21,173 Total expenses 111,324 83,078 54,846 Income before taxes 79,654 52,934 36,990 Income tax expense...
Comparative financial statement data of Manfield, Inc. follow: Comparative financial statement data of Manfield, Inc. follow:...
Comparative financial statement data of Manfield, Inc.
follow:
Comparative financial statement data of Manfield, Inc. follow: 囲(Click the icon to view the income statement.) EEE (Click the icon to view the balance sheet.) 1 (Click the icon to view the additional financial information.) Read the requirements Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio Current ratio = Manfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and...
The financial statements of Sol Company appear below: Sol COMPANY Comparative Statements of Financial Position December...
The financial statements of Sol Company appear below: Sol COMPANY Comparative Statements of Financial Position December 31, 2017 ———————————————————————————————————————— Assets 2017 2016 Property, plant and equipment (net).................................................. $260,000 $300,000 Inventory............................................................................................ 50,000 70,000 Accounts receivable (net).................................................................. 50,000 30,000 Short-term investments..................................................................... 15,000 60,000 Cash................................................................................................... 25,000 40,000 Total assets ................................................................................ $400,000 $500,000 Equity and liabilities Share capital – ordinary.................................................................... $150,000 $150,000 Retained earnings.............................................................................. 110,000 70,000 Bonds payable................................................................................... 80,000 160,000...
The financial statements of Sol Company appear below: Sol COMPANY Comparative Statements of Financial Position December...
The financial statements of Sol Company appear below: Sol COMPANY Comparative Statements of Financial Position December 31, 2017 ———————————————————————————————————————— Assets 2017 2016 Property, plant and equipment (net).................................................. $260,000 $300,000 Inventory............................................................................................ 50,000 70,000 Accounts receivable (net).................................................................. 50,000 30,000 Short-term investments..................................................................... 15,000 60,000 Cash................................................................................................... 25,000 40,000 Total assets ................................................................................ $400,000 $500,000 Equity and liabilities Share capital – ordinary.................................................................... $150,000 $150,000 Retained earnings.............................................................................. 110,000 70,000 Bonds payable................................................................................... 80,000 160,000...
Cullumber Corporation is preparing the comparative financial statements for the annual report to its shareholders for...
Cullumber Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2017, and May 31, 2018. The income from operations for the fiscal year ended May 31, 2017, was $1.778,000 and income from continuing operations for the fiscal year ended May 31, 2018, was $2,547,000. In both years, the company incurred a 11% Interest expense on $2,298,000 of debt, an obligation that requires interest-only payments for 5 years. The company...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 386,922 $296,414 $ 205,700 Cost of goods sold 232,927 185,259 131,648 Gross profit 153,995 111,155 74,052 Selling expenses 54,943 40,905 27,152 Administrative expenses 34,823 26,084 17,073 Total expenses 89,766 66,989 44, 225 Income before taxes 64,129 44,166 29,827 Income tax expense 11,947 9,054 6,055 Net income $ 52,282 $ 35,112 $ 23,772 2017...
Hometown Supply Company reported the following information in its comparative financial statements for the fiscal year ended January 31, 2018: E: (Click the icon to view the data.) Read the requirements. Requirement 1. Compute net profit margin ratio (%) for the years ended January 31, 2018 and 2017. Did it improve or worsen in 2018? Identify the formula, then calculate profit margin for 2018 and 2017. (Round your answers to the nearest hundredth of a percent, X.XX%.) = Net profit...
Kindly answer all the Requirements!
Kindly answer all the Requirements
Consider the following condensed financial statements of Safe Money, Inc. The company's target rate of return is 10% PEE (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) Read the requirements Requirement 1. Calculate the company's ROI. Round all of your answers to four decimal places. Begin by selecting the formula to calculate return on investment (ROI), and then enter the amounts...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 427,928 $ 327,828 $ 227,500 Cost of goods sold 257,613 207,515 145,600 Gross profit 170,315 120,313 81,900 Selling expenses 60,766 45, 240 30,030 Administrative expenses 38,514 28,849 18,883 Total expenses 99, 280 74,089 48,913 Income before taxes 71,035 46,224 32,987 Income tax expense 13,213 9,476 6,696 Net income $ 57,822 $ 36,748 $...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 557,905 $ 427,401 $ 296,600 Cost of goods sold 335,859 267,980 189,824 Gross profit 222,046 159,421 106,776 Selling expenses 79,223 58,981 39, 151 Administrative expenses 50, 211 24,618 Total expenses 129,434 96,592 63,769 Income before taxes 92,612 62,829 43, 007 Income tax...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 479,843 $ 367,599 $ 255, 100 Cost of goods sold 288,865 231,587 163,264 Gross profit 190,978 136,012 91,836 Selling expenses 68,138 50,729 33,673 Administrative expenses 43,186 32,349 21,173 Total expenses 111,324 83,078 54,846 Income before taxes 79,654 52,934 36,990 Income tax expense...
Comparative financial statement data of Manfield, Inc.
follow:
Comparative financial statement data of Manfield, Inc. follow: 囲(Click the icon to view the income statement.) EEE (Click the icon to view the balance sheet.) 1 (Click the icon to view the additional financial information.) Read the requirements Requirement 1a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio Current ratio = Manfield, Inc. Comparative Income Statement Years Ended December 31, 2018 and...
Cullumber Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2017, and May 31, 2018. The income from operations for the fiscal year ended May 31, 2017, was $1.778,000 and income from continuing operations for the fiscal year ended May 31, 2018, was $2,547,000. In both years, the company incurred a 11% Interest expense on $2,298,000 of debt, an obligation that requires interest-only payments for 5 years. The company...
Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 386,922 $296,414 $ 205,700 Cost of goods sold 232,927 185,259 131,648 Gross profit 153,995 111,155 74,052 Selling expenses 54,943 40,905 27,152 Administrative expenses 34,823 26,084 17,073 Total expenses 89,766 66,989 44, 225 Income before taxes 64,129 44,166 29,827 Income tax expense 11,947 9,054 6,055 Net income $ 52,282 $ 35,112 $ 23,772 2017...
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