Abbreviated income statements for Pop co. follow: 2018 2017 Sales 210,000 165,000 COGS 149,000 105,000 Operating...
Abbreviated income statements for Pop co. follow:
| 2018 | 2017 | |
| Sales | 210,000 | 165,000 |
| COGS | 149,000 | 105,000 |
| Operating Expense | 27,500 | 18,000 |
| Income Tax Expense | 10,800 | 11,100 |
| Net Income | 22,700 | 30,900 |
Using Vertical analysis , which of the following is true?
a. 2018 operating Expenses as a percent of Sales is 4.91%
b. 2017 Net incom as a percent of sales is 4.91%
c. Both a,b are true.
d. Nethier a, nor b are true.
H2O Corporation had sales of $547,000 cost of goods sold of
$348,000, and avergae inventory of $65,000. what is the company's
inventory turnover ratio?
a. 0.19x
b. 3.06x
c. 5.35x
d. 8.42x
the Tea company only has common stockholders. Last year , the
company earned $47,000 on sales of $163,200: the company average
18,050 outstanding common shares . On the most recent tranding ,
the common shares were selling at $75. What is this company's
earning per share?
a. $11.65 per share.
b. $9.04 per share
c. $2.60 per share.
d. $0.38 per share.
The Orange Company reported net sales of $427,000. the company has average total assets of $928,600 of which $475,000 is property, plant, and equipment and the remainder is in current assets. What is the compan's assets tuenover ratio?
a. 0.46x
b. 0.90x
c. 0.94x
d. 2.17x
Which of the following cash flows wold included under the investing activites section of the cash flow statemnt? Assum indirect method used
a. Changes in the Accounts Recivable
b. Changes in (Gross) long-term Assets
c. Net income.
d. Cash dividend
Homework Answers
Answer to 1st Question:
The correct answer is d.
Reasoning:
Vertical analysis of an income statement is done considering sales as base figure.
Operating expenses of 2018 as a % of sales = (27,500/210,000)*100 = 13.1%
Hence, the statement made in option a is incorrect.
Net Income of 2017 as a % of sales = (30,900/165,000)*100 = 18.73%
Hence, the statement made in option b is incorrect and also in option c.
Answer to 2nd Question:
Option c is correct.
Reasoning:
Inventory Ratio = Cost of goods sold/Average Inventory
Inventory Ratio = 348,000/65,000 = 5.35
Answer to 3rd question:
Option c is correct.
Reasoning:
EPS = Net Income/Average shares outstanding
EPS = 47,000/18,040 = 2.60 per share
Add Answer to:
Abbreviated income statements for Pop co. follow:
2018
2017
Sales
210,000
165,000
COGS
149,000
105,000
Operating...
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