MacMan, Inc. reported the following data: 2019 2018 Amount Percentage Revenues $6,370 $4,980 $1,390 27.91% Cost of goods sold 3,370 2,500 870 34.80% Gross profit 3,000 2,480 520 20.97% Operating expenses: Sales and marketing expense 730 630 100 15.87% General and administrative expenses 420 440 (20) (4.55)% Research and development expense 470 410 60 14.63% Other expense 430 730 (300) (41.10)% Total operating expenses 2,050 2,210 (160) (7.24)% Income before income tax 950 270 680 251.85% Income tax expense 260 250 $10 4% Net income (loss) $690 $20 $670 3,350% The horizontal analysis shows that cost of goods sold has ________. (Round your answer to two decimal places.) A. increased by 27.91% B. decreased by 27.91% C. decreased by 34.80% D. increased by 34.80%
Horizontal analysis
2019 | 2018 | Amount | % | |
Cost of goods sold | 3370 | 2500 | 870 | 34.80% |
So answer is d) Increased by 34.80%
MacMan, Inc. reported the following data: 2019 2018 Amount Percentage Revenues $6,370 $4,980 $1,390 27.91% Cost...
ABC Corp had the following financial data related to the year-end 2018 and 2019. Prepare the Statement of Cash Flows, as of December 31, 2019, for ABC Corp. Comparative Balance Sheet Data ABC Corp Balance Sheet December 31 2019 2018 Cash $ 142,740 $ 46,080 Accounts Receivable 126,360 58,800 Inventories 146,250 123,420 Long-term Investments 111,800 112,800 Equipment, net 286,000 228,600 $813,150 $ 569,700 Accounts Payable $ 130,000 $ 80,760 Income Tax Payable 21,450 20,400 Bonds Payable 97,500 132,000 Common...
Superior Exercise Equipment, Inc. reported the following
financial statements for 2018:
Requirements
1.) Computer the amount of Superior Exercise's acquisition of
plant assets. Assume the acquisition was for cash. Superior
Exercise disposed of plant assets at book value. The cost and
accumulated depreciation of the disposed asset was $45,700. No cash
was received upon disposal.
2.) Compute new borrowing or payment of long-term notes payable,
with Superior Exercise having only one long-term notes payable
transaction during the year.
3.) Computer...