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E13-2 Computing and Interpreting Profitability Ratios (LO 13-4, LO 13-5) The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 in 2014 (to $2.40 in 2015). Let's see whether these changes are reflected in the income statement of Insignia Corporation for the year ended December 31, 2015 (amounts in billions). 2015 2014 Revenues $215 $234 Cost of Purchased Crude Oil and Products 120 125 Other Operating costs 56 Income before Income Tax Expense Income...
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The average price of a gallon of gas in 2013 dropped $0.12 (3 percent) from $3.61 in 2012 (to $3.49 in 2013). Let's see whether these changes are reflected in the income statement of Chevron Corporation for the year ended December 31, 2013 (amounts in billions) 2013 2012 $230 $246 128 56 Total Revenues Costs of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income 120 61 49 23 27 $ 26...
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The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 in 2014 (to $2.40 in 2015). Required: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Insignia Corporation for the year ended December 31, 2015 (amounts in billions). 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. 2-b. Excluding income tax and...
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he average price of a gallon of gas in 2015 dropped $0.94 (28
percent) from $3.34 in 2014 (to $2.40 in 2015). Required: 1.
Conduct a horizontal analysis by calculating the year-over-year
changes in each line item, expressed in dollars and in percentages
for the income statement of Insignia Corporation for the year ended
December 31, 2015 (amounts in billions). 2-a. Conduct a vertical
analysis by expressing each line as a percentage of total revenues.
2-b. Excluding income tax and...
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Cost of Goods Sold Cross Profit Selling General, and sinistra Income before Income Tax Expe Income Tax Expense Net Tato Required: 1. Compute the gross profit percentage for each year. Assuming that the change from 2015 to 2016 is the beginning of a sustained trend, is Computer Tycoon likely to earn more or less gross profit from each dollar of sales in 2017? 2. Compute the net profit margin for each year. Given your calculations here and in requirement explain...
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According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 4.8 percent between 2012 and 2013. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31. 2013. $110,000 $135,000 Sales Revenue Cost of Goods Sold 65,000 75,500 45,000 59,500 39,000 Gross Profit Selling, General, and Administrative Expenses 37,000 Interest Expense 600 525 Income before Income Tax Expense7,40019,975 6,000...
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E13-4 Computing Profitability Ratios (LO 13-4, LO 13-5) According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2016 Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2016 Sales Revenue Cost of Goods Sold Gross Profit Selling. General, and Administrat Expenses Interest Expense Income before Income Tax Expense Income Tax...
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10.00 points The average price of a gallon of gas in 2013 dropped S0.12 (3 percent) from 53.61 in 2012 (to $3.49 in 2013) Required: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Chevron Corporation for the year ended December 31, 2013 (amounts in billions). (Decreases should be indicated by a minus sign. Enter your answers in billions (i.e., 10,000,000,000 should be entered...
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Help Save & Ex Eignment i Che Tiger Audio declared and paid a cash dividend of $7,325 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Previous $312,000 163,650 148,350 57,600 5,800 84,950 25,485 $ 59,465 $257,000 147,000 110,000 48,130 5,070 56,800 17,040 $ 39,760 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (308) Net Income Balance...
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Pinnacle Plus declared and paid a cash dividend of $8,100 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current YearPrevious YearIncome StatementSales Revenue$185,000$159,000Cost of Goods Sold82,00078,000Gross Profit103,00081,000Operating Expenses51,00045,000Interest Expense5,5005,500Income before Income Tax Expense46,50030,500Income Tax Expense (30%)13,9509,150Net Income$32,550$21,350Balance SheetCash$89,075$23,000Accounts Receivable, Net32,00027,000Inventory40,00053,000Property and Equipment, Net110,000120,000Total Assets$271,075$223,000Accounts Payable$57,000$33,500Income Tax Payable1,3751,250Note Payable (long-term)55,00055,000Total Liabilities113,37589,750Common Stock (par $10)99,00099,000Retained Earnings58,70034,250Total Liabilities and Stockholders’ Equity$271,075$223,000 Required:1. Compute the gross profit percentage in the current and previous years. Are the current year...
E13-2 Computing and Interpreting Profitability Ratios (LO 13-4, LO 13-5) The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 in 2014 (to $2.40 in 2015). Let's see whether these changes are reflected in the income statement of Insignia Corporation for the year ended December 31, 2015 (amounts in billions). 2015 2014 Revenues $215 $234 Cost of Purchased Crude Oil and Products 120 125 Other Operating costs 56 Income before Income Tax Expense Income...
The average price of a gallon of gas in 2013 dropped $0.12 (3 percent) from $3.61 in 2012 (to $3.49 in 2013). Let's see whether these changes are reflected in the income statement of Chevron Corporation for the year ended December 31, 2013 (amounts in billions) 2013 2012 $230 $246 128 56 Total Revenues Costs of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income 120 61 49 23 27 $ 26...
The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 in 2014 (to $2.40 in 2015). Required: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Insignia Corporation for the year ended December 31, 2015 (amounts in billions). 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. 2-b. Excluding income tax and...
Cost of Goods Sold Cross Profit Selling General, and sinistra Income before Income Tax Expe Income Tax Expense Net Tato Required: 1. Compute the gross profit percentage for each year. Assuming that the change from 2015 to 2016 is the beginning of a sustained trend, is Computer Tycoon likely to earn more or less gross profit from each dollar of sales in 2017? 2. Compute the net profit margin for each year. Given your calculations here and in requirement explain...
According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 4.8 percent between 2012 and 2013. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31. 2013. $110,000 $135,000 Sales Revenue Cost of Goods Sold 65,000 75,500 45,000 59,500 39,000 Gross Profit Selling, General, and Administrative Expenses 37,000 Interest Expense 600 525 Income before Income Tax Expense7,40019,975 6,000...
E13-4 Computing Profitability Ratios (LO 13-4, LO 13-5) According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2016 Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2016 Sales Revenue Cost of Goods Sold Gross Profit Selling. General, and Administrat Expenses Interest Expense Income before Income Tax Expense Income Tax...
10.00 points The average price of a gallon of gas in 2013 dropped S0.12 (3 percent) from 53.61 in 2012 (to $3.49 in 2013) Required: 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Chevron Corporation for the year ended December 31, 2013 (amounts in billions). (Decreases should be indicated by a minus sign. Enter your answers in billions (i.e., 10,000,000,000 should be entered...
Help Save & Ex Eignment i Che Tiger Audio declared and paid a cash dividend of $7,325 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Previous $312,000 163,650 148,350 57,600 5,800 84,950 25,485 $ 59,465 $257,000 147,000 110,000 48,130 5,070 56,800 17,040 $ 39,760 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (308) Net Income Balance...