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Common-Size Income Statements and Horizontal Analysis Income statements for Mariners Corp. for the past two years...
Exercise 13-18 Common-Size Income Statements and Horizontal Analysis LO2.3 Example 13-2, 13-5 Income statements for Mariners...
Exercise 13-18 Common-Size Income Statements and Horizontal Analysis LO2.3 Example 13-2, 13-5 Income statements for Mariners Corp. for the past two years are as follows: Sales revenue Cost of goods sold Gross profit Selling and administrative expense Operating income Interest expense Income before tax Income tax expense Net income (amounts in thousands of dollars) 2017 2016 $60,000 $50,000 42,000 30,000 $18,000 $20,000 9,000 5,000 $ 9,000 $15,000 2,000 2.000 $ 7,000 $13,000 2,000 4,000 $ 5,000 $ 9,000 Required 1....
Cas e Income Statements and conta is Income statements for Manners Corp. for the past two...
Cas e Income Statements and conta is Income statements for Manners Corp. for the past two years we as follows: (amounts in the sands of dollars) 2017 2016 $59.080 49,610 42,440 29.920 $12,520 $19,690 4,990 $3,600 $14.700 1,980 1,980 16,660 $12,720 4,030 $5,120 8,690 Sales Cost of goods sold Gross pro Selling and Operating come Interest expense Income before tax Income tax expense Net income expense Required 1. Using the format in Example 13 prepare con comparative income statement decimal...
Prepare a comparative common-size income statement for Jubilee Corporation. To an investor, how does 2017 compare...
Prepare a comparative common-size income statement for Jubilee Corporation. To an investor, how does 2017 compare with 2016? Explain your reasoning. E (Click the icon to view the comparative income statement.) Data Table Start by calculating the percentages. (Round the percentages to two decimal places, X.XX.) Jubilee Corporation Comparative Common-Size Income Statement Income Statement For the Years Ended December 31, 2017 and 2016 For the Years Ended December 31, 2017 and 2016 2017 2016 (amounts in thousands) Sales revenues 100.00...
Exercise 13-6 Here are the comparative income statements of Bridgeport Corp.. BRIDGEPORT CORP. Comparative Income Statement...
Exercise 13-6 Here are the comparative income statements of Bridgeport Corp.. BRIDGEPORT CORP. Comparative Income Statement For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross Profit Operating expenses Net income $612,400 447,500 164,900 78,000 $531,500 409,400 122,100 49,600 $ 72,500 $ 86,900 Prepare a horizontal analysis of the income statement data for Bridgeport Corp., using 2016 as a base. percentages to 1 decimal place, e.g. 12.1%.) BRIDGEPORT CORP. Comparative Income Statement Increase or (Decrease)...
Question 1 [30 marks] Income statements for Beach Motors (Pty) Ltd. for the past two years...
Question 1 [30 marks] Income statements for Beach Motors (Pty) Ltd. for the past two years are as follows: (amounts in thousands of Rands) 2018 2017 Sales revenue R 70,000 R 60,000 Cost of goods sold 42,000 30,000 Gross profit R 28,000 R 30,000 Selling and administrative expenses 20,000 14,000 Operating income R 8,000 R16,000 Interest expense 2,000 2,000 Income before tax R6,000 R14,000 Income tax expense 2,000 3,000 Net income R4,000 R11,000 Required: 1. Prepare common-size comparative income statements...
Question 1 [30 marks] Income statements for Beach Motors (Pty) Ltd. for the past two years...
Question 1 [30 marks] Income statements for Beach Motors (Pty) Ltd. for the past two years are as follows: (amounts in thousands of Rands) 2017 2018 Sales revenue R 70,000 R 60,000 Cost of goods sold 42,000 30,000 Gross profit R 28,000 R 30,000 Selling and administrative expenses 20,000 14,000 Operating income R 8,000 R16,000 Interest expense 2,000 2,000 Income before tax R 6,000 R14,000 Income tax expense 2,000 3,000 Net income R 4,000 R11,000 Required: 1. Prepare...
Question 1 30 marks) Income statements for Beach Motors (Pty) Ltd. for the past two years are as follows: (amounts...
Question 1 30 marks) Income statements for Beach Motors (Pty) Ltd. for the past two years are as follows: (amounts in thousands of Rands) 2018 2017 Sales revenue R 70.000 R 60.000 Cost of goods sold 42,000 30.000 Gross profit R 28,000 R 30.000 Selling and administrative expenses 20,000 14.000 Operating income R8,000 R16,000 Interest expense 2,000 2.000 Income before tax R6,000 R14,000 Income tax expense 2,000 3,000 Net income R 4,000 R11,000 Required: 1. Prepare common-size comparative income statements...
OAKBROOK COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales...
OAKBROOK COMPANY Comparative Income Statements For Years Ended December 31, 2017 and 2016 2017 2016 Sales $ 980 $ 850 Less cost of goods sold 525 415 Gross profit 455 435 Less operating expenses: Wage expense 90 88 Depreciation expense 18 12 Rent expense 23 20 Miscellaneous expense 24 36 Total operating expenses 155 156 Operating income 300 279 Less other expenses: Interest 9 33 Income before tax 291 246 Less income tax expense 116 98 Net income $ 175...
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...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement
data for Winthrop Company for two recent years ended December 31,
are as follows: Current Year Sales Cost of goods sold Gross profit
$665,600 567,000 Previous Year $520,000 450,000 $98,600 $70,000
Selling expenses$29,500 Administrative expenses 26,460 $25,000
21,000 $ 46,000 Total operating expenses$55,960 Income before
income tax$42,640 $ 24,000 Income tax expenses 17,1009,600 Net
income$ 25,540$ 14,400
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent...
Exercise 13-18 Common-Size Income Statements and Horizontal Analysis LO2.3 Example 13-2, 13-5 Income statements for Mariners Corp. for the past two years are as follows: Sales revenue Cost of goods sold Gross profit Selling and administrative expense Operating income Interest expense Income before tax Income tax expense Net income (amounts in thousands of dollars) 2017 2016 $60,000 $50,000 42,000 30,000 $18,000 $20,000 9,000 5,000 $ 9,000 $15,000 2,000 2.000 $ 7,000 $13,000 2,000 4,000 $ 5,000 $ 9,000 Required 1....
Cas e Income Statements and conta is Income statements for Manners Corp. for the past two years we as follows: (amounts in the sands of dollars) 2017 2016 $59.080 49,610 42,440 29.920 $12,520 $19,690 4,990 $3,600 $14.700 1,980 1,980 16,660 $12,720 4,030 $5,120 8,690 Sales Cost of goods sold Gross pro Selling and Operating come Interest expense Income before tax Income tax expense Net income expense Required 1. Using the format in Example 13 prepare con comparative income statement decimal...
Prepare a comparative common-size income statement for Jubilee Corporation. To an investor, how does 2017 compare with 2016? Explain your reasoning. E (Click the icon to view the comparative income statement.) Data Table Start by calculating the percentages. (Round the percentages to two decimal places, X.XX.) Jubilee Corporation Comparative Common-Size Income Statement Income Statement For the Years Ended December 31, 2017 and 2016 For the Years Ended December 31, 2017 and 2016 2017 2016 (amounts in thousands) Sales revenues 100.00...
Exercise 13-6 Here are the comparative income statements of Bridgeport Corp.. BRIDGEPORT CORP. Comparative Income Statement For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross Profit Operating expenses Net income $612,400 447,500 164,900 78,000 $531,500 409,400 122,100 49,600 $ 72,500 $ 86,900 Prepare a horizontal analysis of the income statement data for Bridgeport Corp., using 2016 as a base. percentages to 1 decimal place, e.g. 12.1%.) BRIDGEPORT CORP. Comparative Income Statement Increase or (Decrease)...
Question 1 [30 marks] Income statements for Beach Motors (Pty) Ltd. for the past two years are as follows: (amounts in thousands of Rands) 2018 2017 Sales revenue R 70,000 R 60,000 Cost of goods sold 42,000 30,000 Gross profit R 28,000 R 30,000 Selling and administrative expenses 20,000 14,000 Operating income R 8,000 R16,000 Interest expense 2,000 2,000 Income before tax R6,000 R14,000 Income tax expense 2,000 3,000 Net income R4,000 R11,000 Required: 1. Prepare common-size comparative income statements...
Question 1 30 marks) Income statements for Beach Motors (Pty) Ltd. for the past two years are as follows: (amounts in thousands of Rands) 2018 2017 Sales revenue R 70.000 R 60.000 Cost of goods sold 42,000 30.000 Gross profit R 28,000 R 30.000 Selling and administrative expenses 20,000 14.000 Operating income R8,000 R16,000 Interest expense 2,000 2.000 Income before tax R6,000 R14,000 Income tax expense 2,000 3,000 Net income R 4,000 R11,000 Required: 1. Prepare common-size comparative income statements...
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...
Horizontal Analysis of the Income Statement Income statement
data for Winthrop Company for two recent years ended December 31,
are as follows: Current Year Sales Cost of goods sold Gross profit
$665,600 567,000 Previous Year $520,000 450,000 $98,600 $70,000
Selling expenses$29,500 Administrative expenses 26,460 $25,000
21,000 $ 46,000 Total operating expenses$55,960 Income before
income tax$42,640 $ 24,000 Income tax expenses 17,1009,600 Net
income$ 25,540$ 14,400
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent...
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