Presented below is the comparative income statement of Edison Company for 2018 and 2017. Edison Company...
Presented below is the comparative income statement of Edison Company for 2018 and 2017.
| Edison Company Income Statement For the Year Ended November 30 |
||
| 2018 | 2017 | |
| Sales | $188,611 | $123,848 |
| Cost of Goods Sold | $110,424 | $64,407 |
| Gross Profit | $78,187 | $59,441 |
| Operating Expenses | ||
| Administrative Expense | $21,184 | $10,508 |
| Selling Expense | $27,225 | $22,419 |
| Total Operating Expenses | $48,409 | $32,927 |
| Other Income and Expenses | ||
| Interest Expense | $1,251 | $867 |
| Income Before Income Tax | $28,527 | $25,647 |
| Income Tax | $8,558 | $7,694 |
| Net Income (Loss) | $19,969 | $17,953 |
a) Calculate the following ratios for both years.
Do not enter dollar signs or commas in the input boxes.
Round your answers to 2 decimal places.
| 2018 | 2017 | |
| Net Profit Margin | Answer | Answer |
| Time Interest Earned | Answer | Answer |
b) In which year does the company have a better performance with respect to the net profit margin calculated in part a)?
Year:
Homework Answers
a) Calculate the following ratios for both years.
Do not enter dollar signs or commas in the input boxes.
Round your answers to 2 decimal places.
| 2018 | 2017 | |
| Net Profit Margin | 19969/188611 = 10.59% | 17953/123848 = 14.50% |
| Time Interest Earned | (19969+1251+8558)/1251 = 23.80 | (17953+7694+867)/867 = 30.58 |
b) In which year does the company have a better performance with respect to the net profit margin calculated in part a)?
2017 Year
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Presented below is the comparative income statement of Edison
Company for 2018 and 2017.
Edison Company...
The comparative balance sheets for 2018 and 2017 and the statement of Income for 2018 are...
The comparative balance sheets for 2018 and 2017 and the statement of Income for 2018 are given below for Wright Company. Additional Information from Wright's accounting records Is provided also. WRIGHT COMPANY Comparative Balance Sheets Decenber 31, 2018 and 2017 (S in eees) 2018 2017 Assets Cash $ 114 $ 100 142 Accounts receivable Short-term investment Inventory Land Buildings and equipnent Less: Accumulated depreciation 145 16 140 50 145 106 130 710 540 (199) (145) $1,068 926 Liabilities Accounts payable...
In its income statement for the year ended December 31, 2017, Blossom Company reported the following...
In its income statement for the year ended December 31, 2017, Blossom Company reported the following condensed data. Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $450,000 Loss on disposal of plant assets 1,149,500 Sales revenue 65,000 Income tax expense 145,200 Sales discounts 300,000 Utilities expense $83,000 2,210,000 25,000 120,000 100,000 Your answer is partially correct. Prepare a multiple-step income statement. (List other revenues before other expenses.) BLOSSOM COMPANY Income Statement For the Year...
I need Tesla inc. vertical analysis income statement for year 2017 and 2018. Tesla Inc. Vertical...
I need Tesla inc. vertical
analysis income statement for year 2017 and 2018.
Tesla Inc. Vertical Analysis of Income Statement for 2017 and 2018 Model Tesla 2017 2018 Total Revenue Cost of Revenue Gross Profit 11,758,751 9,536,264 2,222,487 21,461,268 17,419,247 4,042,021 Operating Expenses Research Development Selling General & Admin Total Operating Expenses 1,378,073 2,476,500 3,854,573 1,460,370 2,834,491 4,294,861 Operating Income or Loss Interest Expense Total Other Income/Expense Net Income Before Tax Income Tax Expense Income From Continuing Operation (1,632,086) 471,259...
1. the comparative balance sheets for 2018 and 2017 and the statement of income for 2018...
1.
the comparative balance sheets for 2018 and 2017 and the
statement of income for 2018 are given below for Wright Company.
Additional information from Wright's accounting records is provided
also.
WRIGHT COMPANY
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
109
$
70
Accounts receivable
110
115
Short-term investment
52
24
Inventory
115
110
Land
82
100
Buildings and equipment
615
480
Less: Accumulated depreciation
(163
)
(115
)
$
920...
2 Data Table 3. Comparative Balance Sheet Income Statement 2018 and 2017 2018 2017 For the...
2 Data Table 3. Comparative Balance Sheet Income Statement 2018 and 2017 2018 2017 For the Year Ended Dece 2018 s 5,000,000 2,800,000 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Income and (Expenses) Assets s 68,000 s 56,000 53,200 21,800 5,000 4,400 315,800 217,800 143,000 115,000 2200,000 1850,000 Property, Plant, and Equipment, net Patents, net Total Assets 350,000 (42,000) 308,000 107 800 $ 200,200 s 585,000o $ 415,000 Interest Expense Income Before Income...
CRANE COMPANY Income Statement For the Year Ended December 31, 2017 Sales Sales Revenue 2,290,000 Less...
CRANE COMPANY Income Statement For the Year Ended December 31, 2017 Sales Sales Revenue 2,290,000 Less +: Sales Discounts 170,000 Net Sales 2,120,000 Cost of Goods Sold 1,038,800 Gross Profit 1,081,200 Operating Expenses 460,000 i Salaries and Wages Expense 320,000 i Depreciation Expense 120,000 i Utilities Expense Total Operating Expenses 900,000 Income From Operations 181,200 Other Revenues and Gains Interest Revenue 57,900 Other Expenses and Losses Interest Expense 67,000 83,500 i Loss on Disposal of Plant Assets 150,500 88,600 Income...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017...
KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2018, 2017, and 2016 2018 2017 2016 sales $389,743 $298,575 $207,200 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense 234,625 188,401 110,174 41,203 26,275 67,478 42,696 8,753 132,608 155,118 55, 344 35,077 90,421 64,697 12,034 74,592 27,350 17,198 44,548 30,044 6,099 Net income $ 52,663 $ 33,943 $ 23,945 KORBIN COMPANY Comparative Balance Sheets December 31, 2018, 2017, and 2016...
The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are...
The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for National Intercable Company. Additional information from NIC’s accounting records is provided also. NATIONAL INTERCABLE COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ($ in millions) 2018 2017 Assets Cash $ 139 $ 130 Accounts receivable 388 380 Less: Allowance for uncollectible accounts (10 ) (8 ) Prepaid insurance 5 12 Inventory 364 360 Long-term investment 66 110 Land 250 250...
2017 Mariner, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 2019 2018 Dollars...
2017 Mariner, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 2019 2018 Dollars in thousands Net Sales Revenue $ 183,000 $ 151,000 Cost of Goods Sold 94,000 85,000 Selling and Administrative Expenses 45,500 40,000 Interest Expense 7,500 10,500 Income Tax Expense 13,000 11,500 $ 23,000 $ 4,000 Net Income Additional data: Total Assets Common Stockholders' Equity Preferred Dividends Common Shares outstanding During the Year $ 206,000 $ 189,000 $ 174,000 93,000 85,500 81,000 3,000 3,000 0 25,000...
Comparative balance sheets and an income statement for Joe Smith Company are presented below. Using the...
Comparative balance sheets and an income statement for Joe Smith Company are presented below. Using the indirect method, prepare in proper financial statement format a statement of cash flows for the year ended December 31, 2018 Dec. 31, 2018 Dec. 31, 2017 Assets Cash 90,600 145,900 Accounts receivable (net) 51,300 58,000 Inventory 147,200 135,000 Investments, long-term 12,000 60,000 Equipment 493,000 375,000 Accumulated depreciation (127,700) (128,000) Total assets 666,400 645,900 Liabilities and stockholders' equity Liabilities: Accounts payable 61,500 42,600 Income...
The comparative balance sheets for 2018 and 2017 and the statement of Income for 2018 are given below for Wright Company. Additional Information from Wright's accounting records Is provided also. WRIGHT COMPANY Comparative Balance Sheets Decenber 31, 2018 and 2017 (S in eees) 2018 2017 Assets Cash $ 114 $ 100 142 Accounts receivable Short-term investment Inventory Land Buildings and equipnent Less: Accumulated depreciation 145 16 140 50 145 106 130 710 540 (199) (145) $1,068 926 Liabilities Accounts payable...
In its income statement for the year ended December 31, 2017, Blossom Company reported the following condensed data. Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $450,000 Loss on disposal of plant assets 1,149,500 Sales revenue 65,000 Income tax expense 145,200 Sales discounts 300,000 Utilities expense $83,000 2,210,000 25,000 120,000 100,000 Your answer is partially correct. Prepare a multiple-step income statement. (List other revenues before other expenses.) BLOSSOM COMPANY Income Statement For the Year...
I need Tesla inc. vertical
analysis income statement for year 2017 and 2018.
Tesla Inc. Vertical Analysis of Income Statement for 2017 and 2018 Model Tesla 2017 2018 Total Revenue Cost of Revenue Gross Profit 11,758,751 9,536,264 2,222,487 21,461,268 17,419,247 4,042,021 Operating Expenses Research Development Selling General & Admin Total Operating Expenses 1,378,073 2,476,500 3,854,573 1,460,370 2,834,491 4,294,861 Operating Income or Loss Interest Expense Total Other Income/Expense Net Income Before Tax Income Tax Expense Income From Continuing Operation (1,632,086) 471,259...
1.
the comparative balance sheets for 2018 and 2017 and the
statement of income for 2018 are given below for Wright Company.
Additional information from Wright's accounting records is provided
also.
WRIGHT COMPANY
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
109
$
70
Accounts receivable
110
115
Short-term investment
52
24
Inventory
115
110
Land
82
100
Buildings and equipment
615
480
Less: Accumulated depreciation
(163
)
(115
)
$
920...
2 Data Table 3. Comparative Balance Sheet Income Statement 2018 and 2017 2018 2017 For the Year Ended Dece 2018 s 5,000,000 2,800,000 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Income and (Expenses) Assets s 68,000 s 56,000 53,200 21,800 5,000 4,400 315,800 217,800 143,000 115,000 2200,000 1850,000 Property, Plant, and Equipment, net Patents, net Total Assets 350,000 (42,000) 308,000 107 800 $ 200,200 s 585,000o $ 415,000 Interest Expense Income Before Income...
CRANE COMPANY Income Statement For the Year Ended December 31, 2017 Sales Sales Revenue 2,290,000 Less +: Sales Discounts 170,000 Net Sales 2,120,000 Cost of Goods Sold 1,038,800 Gross Profit 1,081,200 Operating Expenses 460,000 i Salaries and Wages Expense 320,000 i Depreciation Expense 120,000 i Utilities Expense Total Operating Expenses 900,000 Income From Operations 181,200 Other Revenues and Gains Interest Revenue 57,900 Other Expenses and Losses Interest Expense 67,000 83,500 i Loss on Disposal of Plant Assets 150,500 88,600 Income...
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2017 Mariner, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 2019 2018 Dollars in thousands Net Sales Revenue $ 183,000 $ 151,000 Cost of Goods Sold 94,000 85,000 Selling and Administrative Expenses 45,500 40,000 Interest Expense 7,500 10,500 Income Tax Expense 13,000 11,500 $ 23,000 $ 4,000 Net Income Additional data: Total Assets Common Stockholders' Equity Preferred Dividends Common Shares outstanding During the Year $ 206,000 $ 189,000 $ 174,000 93,000 85,500 81,000 3,000 3,000 0 25,000...
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