Comparative Statements (in thousands of $)
For the Years Ended December 31 Current Year Prior Year
Sales $800 $500
Total Expenses $560 $400
Net Income $240 $100
Income Statement
Particular | Current Year | Percentage | Prior Year | Percentage |
Sales | $800 | 100% | $500 | 100% |
Less: Expenses | $560 | $560/$800*100= 70% | $400 | $400/$500*100=80% |
Net Income (Sales-Expenses) | $240 | $240/$800*100=30% | $100 | $100/$500*100= 20% |
Assessment= One can see that profit percentage have been improved since last year.So, company's situation have beem improved.
Express the following comparative income statements in common-size percents and assess whether this company’s situation has...
Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales Cost of goods sold Gross profit s 765,000 560,000 205.000 129,200 5 75,800 3640,000 284 400 355 600 224,000 $ 131,600 Net ncome Has the company's situation improved in the most recent year? Yes <Prev 30, 71ll Next > ere to search
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...
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. 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. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31. 2017 and 2016 2017 2016 Sales Cost of goods sold Gross profit Operating expenses Net income $ 730,000 562,700 167,300 130,400 $ 36,900 $ 675,000 293,200 381,800 273,200 $ 108,600 Has the company's situation improved in the most recent year? O Yes O No
7 Express the following comparative income statements in common-size place.) percents. (Round your percentage answers to 1 decimal 10 points GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales 775,000 565.400 200,600 130.400 $ 79,200 s700,000 286,600 413,400 261.200 152.200 Cost of goods sold Gross profit References Net income Has the company's situation improved in the most recent year? O Yes O No
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. (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?
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-Slze percents. (Round your to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales Cost of goods sold Gross profit Operating expenses Net income $ 725,000 565,400 159,600 129,200 $ 30,400 $ 695,000 299,800 395,200 244,400 $150,800 Has the company's situation improved in the most recent year?