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| Miller Electronic | Horizontal Analysis | |||
| A | B | C=A-B | D=C/B | |
| Amount $ | Amount $ |
Increase or (Decrease) 2015 over 2014 |
||
| Income Statement | 20-2 | 20-1 | Dollars | Percent |
| Net Sales | 650,220.00 | 420,600.00 | 229,620.00 | 54.6% |
| Cost of goods sold | 395,410.00 | 258,668.00 | 136,742.00 | 52.9% |
| Gross Profit | 254,810.00 | 161,932.00 | 92,878.00 | 57.4% |
| Admin Expenses | 63,518.00 | 42,288.00 | 21,230.00 | 50.2% |
| Selling Expenses | 65,992.00 | 43,936.00 | 22,056.00 | 50.2% |
| Total Operating Expenses | 129,510.00 | 86,224.00 | 43,286.00 | 50.2% |
| Operating Income | 125,300.00 | 75,708.00 | 49,592.00 | 65.5% |
| Interest Expense | 1,282.00 | 1,204.00 | 78.00 | 6.5% |
| Income before Income taxes | 124,018.00 | 74,504.00 | 49,514.00 | 66.5% |
| Income tax Expense | 31,005.00 | 13,630.00 | 17,375.00 | 127.5% |
| Net Income | 93,013.00 | 60,874.00 | 32,139.00 | 52.8% |
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$6,000 Notes payable $10,000 Accounts payable 30,242 43,524 5,400 Accrued and withheld payroll taxes 6,250 $59,774...
Miller Electronics Corporation Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 Net S...
Miller Electronics Corporation Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 Net Sales (all on account) $428,000 $665,000 Cost of goods sold 399,800 261,150 Gross profit $265,200 $166,850 Administrative expenses $65,941 $42,631 Selling expenses 66,616 44,337 Total operating expenses $132,557 $86,968 Operating income $132,643 $79,882 Interest expense 1,255 1,177 Income before income taxes $131,388 $78,705 Income tax expense 30,865 13,151 Net income $100,523 $65,554 Miller Electronics Corporation Comparative Balance Sheet December 31, 20-2 and 20-1...
Prepare a vertical analysis of the income statement and balance sheet. Show each item on the...
Prepare a vertical analysis of the income statement and balance
sheet. Show each item on the income statement as a percentage of
the net sales for each year. On the balance sheet, show each asset
item as a percentage of the total assets and each liability and
equity item as a percentage of the total liabilities and
stockholders' equity. Round percentages to one decimal place.
Miller Electronics Corporation Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2...
264,000239,000 S721.000 $698,000 Less accumulated depreciation... Accounts payable Income taxes payable .. Bonds payable $ 58,000...
264,000239,000 S721.000 $698,000 Less accumulated depreciation... Accounts payable Income taxes payable .. Bonds payable $ 58,000 $46,000 19,000 41,000 100,000 160,000 150,000 140,000 343 000 292,000 $721,000 $698.000 15,000 55,000 Common stock Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold.. Gross margin Selling and administrative expense $870,000 450,000 420,000 270 000 150,000 45,000 $105.000 Net income The company declared and paid a cash dividend of $54,000 during the year. It did not purchase or dispose of...
36,540 35,280 170,940 184,800 157,416 168,000 355,740 325,416 Income taxes payable Total current liabilities Bonds payable...
36,540 35,280 170,940 184,800 157,416 168,000 355,740 325,416 Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($4 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 243,600 263,256 506,856 252,000 138,936 390,936 $862,596 $716,352 All sales were on account. Net cash provided by operating activities for 2022 was $184,800. Capital expenditures were $114,240, and cash dividends were $58,324. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g....
1 2 Complete the comparative income statement and balance sheet for Logic Company. (Input all...
1 2
Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your"percent" answers to the nearest hundredth percent.) LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017 INCREASE (DECREASE Amount 2017 2016 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses $ 19,000 15,000 100 $ 18,000...
Sherry is reading a financial statement that includes Equipment, Retained Earnings, and Accrued Utilities Payable. Which...
Sherry is reading a financial statement that includes Equipment, Retained Earnings, and Accrued Utilities Payable. Which financial statement is Sherry analyzing? The income statement All of the financial statements would include these accounts The balance sheet The statement of stockholders' equity Question 3 When a payment is paid to a supplier for an account payable: Assets and stockholders' equity both decrease. Total assets remain unchanged. Assets and revenues both increase Liabilities and assets both decrease. Use necessary amounts from the...
Problem 23.1A Horizontal and vertical analysis of income statement and balance sheet. LO 23-1, 23...
Problem 23.1A Horizontal and vertical analysis of income
statement and balance sheet. LO 23-1, 23-2
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
comparative income statement for the years 2016 and 2015.
(Round your percentage answers to 1 decimal place. i.e.,
0.123 should be entered as 12.3.)
1-b....
A A A Accounts Receivabil Food Inventory Total Current Assets Accounts Payable Accrued Expenses Total Current...
A A A Accounts Receivabil Food Inventory Total Current Assets Accounts Payable Accrued Expenses Total Current Liabilities A $ 100,000 A Problem 9 The New K Inn has provided the following selected financial information: Balance Sheet * Cash $100,000 X Property and equipment $2,000,000 abo v ibile Income Statement * Room sales $1,500,000 Food sales 500,000 older Cost of food sold 150,000 + Net income solo 200,000 Ratios Current ratio Food inventory turnover 12 times Average collection period 20 days...
Weaver Company Comparative Balance Sheet at December31 Last This Year Year Assets Cash Accounts receivable Inventory...
Weaver Company Comparative Balance Sheet at December31 Last This Year Year Assets Cash Accounts receivable Inventory Prepaid expense:s Total current assets Property, plant, and equipment $9 15 240 175 6 436 470 85 385 19 $1,017 840 340 125 10 484 610 93 517 16 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total...
1) accounts receivable turnover (2 decimal places) 2) average collection period (365 days in a year)...
1) accounts receivable turnover (2 decimal places)
2) average collection period (365 days in a year)
3) inventory turnover (2 decimal places round)
4) average sale period (365 days in a year)
5)operating cycle
6)total asset turnover
Weller Corporation Comparative Income statement and Reconciliation (dollars in thousands) This Year Last Year Sales $79,000 $74,000 Cost of goods sold 52.000 48.000 Gross margin 27,000 26,000 Selling and administrative expenses Selling expenses 8,500 8,000 Administrative expenses 12,000 11,000 Total selling and administrative...
Miller Electronics Corporation Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2 20-1 Net Sales (all on account) $428,000 $665,000 Cost of goods sold 399,800 261,150 Gross profit $265,200 $166,850 Administrative expenses $65,941 $42,631 Selling expenses 66,616 44,337 Total operating expenses $132,557 $86,968 Operating income $132,643 $79,882 Interest expense 1,255 1,177 Income before income taxes $131,388 $78,705 Income tax expense 30,865 13,151 Net income $100,523 $65,554 Miller Electronics Corporation Comparative Balance Sheet December 31, 20-2 and 20-1...
Prepare a vertical analysis of the income statement and balance
sheet. Show each item on the income statement as a percentage of
the net sales for each year. On the balance sheet, show each asset
item as a percentage of the total assets and each liability and
equity item as a percentage of the total liabilities and
stockholders' equity. Round percentages to one decimal place.
Miller Electronics Corporation Comparative Income Statement For Years Ended December 31, 20-2 and 20-1 20-2...
264,000239,000 S721.000 $698,000 Less accumulated depreciation... Accounts payable Income taxes payable .. Bonds payable $ 58,000 $46,000 19,000 41,000 100,000 160,000 150,000 140,000 343 000 292,000 $721,000 $698.000 15,000 55,000 Common stock Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold.. Gross margin Selling and administrative expense $870,000 450,000 420,000 270 000 150,000 45,000 $105.000 Net income The company declared and paid a cash dividend of $54,000 during the year. It did not purchase or dispose of...
36,540 35,280 170,940 184,800 157,416 168,000 355,740 325,416 Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock ($4 par) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 243,600 263,256 506,856 252,000 138,936 390,936 $862,596 $716,352 All sales were on account. Net cash provided by operating activities for 2022 was $184,800. Capital expenditures were $114,240, and cash dividends were $58,324. Compute the following ratios for 2022. (Round all answers to 2 decimal places, e.g....
1 2
Complete the comparative income statement and balance sheet for Logic Company. (Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your"percent" answers to the nearest hundredth percent.) LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017 INCREASE (DECREASE Amount 2017 2016 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross profit Operating expenses $ 19,000 15,000 100 $ 18,000...
Sherry is reading a financial statement that includes Equipment, Retained Earnings, and Accrued Utilities Payable. Which financial statement is Sherry analyzing? The income statement All of the financial statements would include these accounts The balance sheet The statement of stockholders' equity Question 3 When a payment is paid to a supplier for an account payable: Assets and stockholders' equity both decrease. Total assets remain unchanged. Assets and revenues both increase Liabilities and assets both decrease. Use necessary amounts from the...
Problem 23.1A Horizontal and vertical analysis of income
statement and balance sheet. LO 23-1, 23-2
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
comparative income statement for the years 2016 and 2015.
(Round your percentage answers to 1 decimal place. i.e.,
0.123 should be entered as 12.3.)
1-b....
A A A Accounts Receivabil Food Inventory Total Current Assets Accounts Payable Accrued Expenses Total Current Liabilities A $ 100,000 A Problem 9 The New K Inn has provided the following selected financial information: Balance Sheet * Cash $100,000 X Property and equipment $2,000,000 abo v ibile Income Statement * Room sales $1,500,000 Food sales 500,000 older Cost of food sold 150,000 + Net income solo 200,000 Ratios Current ratio Food inventory turnover 12 times Average collection period 20 days...
Weaver Company Comparative Balance Sheet at December31 Last This Year Year Assets Cash Accounts receivable Inventory Prepaid expense:s Total current assets Property, plant, and equipment $9 15 240 175 6 436 470 85 385 19 $1,017 840 340 125 10 484 610 93 517 16 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total...
1) accounts receivable turnover (2 decimal places)
2) average collection period (365 days in a year)
3) inventory turnover (2 decimal places round)
4) average sale period (365 days in a year)
5)operating cycle
6)total asset turnover
Weller Corporation Comparative Income statement and Reconciliation (dollars in thousands) This Year Last Year Sales $79,000 $74,000 Cost of goods sold 52.000 48.000 Gross margin 27,000 26,000 Selling and administrative expenses Selling expenses 8,500 8,000 Administrative expenses 12,000 11,000 Total selling and administrative...
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