Excel Practice Sheet
.xlsx
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School
University of Wisconsin, Madison *
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Course
222
Subject
Finance
Date
May 31, 2024
Type
xlsx
Pages
172
Uploaded by DeaconKnowledge6430
Historicals
Forecasts
Income Statement
2005
2006
2007
2008
Revenues
100.0 125.0 150.0 175.0 Cost of Goods Sold
50.0 60.0 70.0 80.0 Gross Profit
50.0 65.0 80.0 95.0
Enter company name:
Lemonade Co.
Income Statement for Lemonade Co.
9/15/2019
12/31/2014
12/31/2015
12/31/2016
12/31/2017
12/31/2018
70.83%
Revenues
800.0 1,000.0 1,500.0 2,500.0 4,500.0 3187.5
Cost of Goods Sold
300.0 500.0 1,200.0 3,400.0 4,000.0 Gross Profit
500.0 500.0 300.0 (900.0)
500.0 Operating costs
35.0 45.0 55.0 65.0 78.0 Non-operating costs
15.0 15.0 15.0 15.0 15.0 Pretax profit
450.0 440.0 230.0 (980.0)
407.0 Tax
157.5 154.0 80.5 (343.0)
142.5 Net income
292.5 286.0 149.5 (637.0)
264.6 Tax rate
35%
Override
5,000.0 Model-derived value (5x pretax profit):
5,000.0
Question 1
Input:
Input your age:
25.0 Input your younger sibling's age:
17.0 Question
Answer
Can you vote for president?
For how many years have you been eligible to vote?
Are both me and my younger sibling eligible to vote?
Question 2
Input:
Input expected company revenue:
300.0 Input actual company revenue:
400.0 Input expected company EBITDA:
50.0 Input actual company EBITDA:
60.0 Question
Answer
Did the company exceed revenue expectations?
Did the company exceed both revenue and EBITDA expectations?
Question 1
Input:
Input your age:
25.0 Input your younger sibling's age:
17.0 Question
Answer
Can you vote for president?
yes
For how many years have you been eligible to vote?
7.0 Are both me and my younger sibling eligible to vote?
no no
Question 2
Input:
Input expected company revenue:
300.0 Input actual company revenue:
400.0 Input expected company EBITDA:
50.0 Input actual company EBITDA:
60.0 Question
Answer
Did the company exceed revenue expectations?
yes
Did the company exceed both revenue and EBITDA expectations?
yes
Select a driver for operating expense forecasts
Actual
2013
2014
2015
Revenue
1,376.0 1,487.0 1,532.0 Cost of sales
467.0 540.0 564.0 Gross Profit
909.0 947.0 968.0 Operating expenses
121.0 146.0 167.0 Operating profit
788.0 801.0 801.0 Assumptions
Revenue growth
8.07% 3.03% Cost of sales margin
33.94% 36.31% 36.81% Operating expenses margin (Nested IF)
8.79% 9.82% 10.90% Operating expenses forecast drivers
1 = Apply last year's operating expense margin
2 = Apply last 3 years' average operating expense margin
3 = Apply last 2 years' average operating expense margin
If no driver is selected, keep operating expenses flat
Operating expenses margin (with IFS - 2016 Only)
1
Forecasts
2016
2016
2016
1,578.0 1,625.3 1,674.1 583.8 601.4 619.4 994.1 1,023.9 1,054.7 172.0 177.2 182.5 822.1 846.8 872.2 3.00% 3.00% 3.00% 37.00% 37.00% 37.00% 10.90% 10.90% 10.90%
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Related Questions
Problem: The financial statements of Muscat Company appear below: MUSCAT COMPANY Income Statement For the
Year Ended December 31, 2023 Net sales Cost of goods sold Gross profit \table[[$400,000de
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The following income statement appears in the financial report of MERCADO Company for the year ending December 31, 2020:
MERCADO Company
Income Statement
For the year ending December 31. 2020
Sales
72,485,000.00
Cost of goods sold
Gross profit
39.866,750.00
32.618.250.00
Less: Operating expenses:
Variable selling expenses:
Salesmen's commissions
3,624,250.00
Communication expenses
1,812.125.00
Advertising and promotion
635.350.00
Representation expenses
215.385.00
Gas and oil - salesmen
1,285.000.00
Repairs and maintenance
1,150.000.00
3.722.110.00
Fixed selling expenses
Salaries and wages
4,225,000.00
Franchises and royalties
524,150.00
Office supplies and materials
555.000.00
Depreciation
963 300.00
6.267,450.00 14.989,560.00
Fixed administrative expenses
Salaries and wages
6.324,650.00
Employee benefits
316,490.00
Communications expenses
335,125.00
Office supplies and materials
275,150.00
Depreciation
325,500.00
104 250.00 7.681,165.00
9.947.525.00
Miscellaneous expenses
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Selected comparative financial statements of Haroun Company follow.
HAROUN COMPANY
Comparative Income Statements
For Years Ended December 31, 2021–2015
($ thousands) 2021 2020 2019 2018 2017 2016 2015
Sales $ 2,260 $ 1,979 $ 1,801 $ 1,651 $ 1,540 $ 1,432 $ 1,174
Cost of goods sold 1,625 1,322 1,137 995 925 865 689
Gross profit 635 657 664 656 615 567 485
Operating expenses 483 378 347 256 222 219 182
Net income $ 152 $ 279 $ 317 $ 400 $ 393 $ 348 $ 303
HAROUN COMPANY
Comparative Year-End Balance Sheets
December 31, 2021–2015
($ thousands) 2021 2020 2019 2018 2017 2016 2015
Assets
Cash $ 111 $ 147 $ 153 $ 156 $ 162 $ 160 $ 165
Accounts receivable, net 800 840 760 583 514 487 343
Merchandise inventory 2,893 2,106 1,840 1,551 1,393 1,183 858
Other current assets 74 67 41 74 62 63 33
Long-term investments 0 0 0 228 228 228 228
Plant assets, net 3,541 3,527 3,086 1,740 1,799 1,599 1,373
Total assets $ 7,419 $ 6,687 $ 5,880 $ 4,332 $ 4,158 $ 3,720 $ 3,000
Liabilities and…
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A company reported the following data for the year ending 2018:
Description
Amount
Sales
Sales discount
Sales returns and allowances
$400,000
$16,000
$13,000
$117,000
$153,000
|Cost of goods sold
|Operating expense
Income tax expense
$23,750
Compute the amount of gross profit to be reported on the income statement.
a. $101,000
b. $117,000
c. $254,000
d. $124,750
Answer
O O O O
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KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2019, 2018, and 2017
2019
2018
2017
Sales
$
459,716
$
352,180
$
244,400
Cost of goods sold
276,749
223,282
156,416
Gross profit
182,967
128,898
87,984
Selling expenses
65,280
48,601
32,261
Administrative expenses
41,374
30,992
20,285
Total expenses
106,654
79,593
52,546
Income before taxes
76,313
49,305
35,438
Income tax expense
14,194
10,108
7,194
Net income
$
62,119
$
39,197
$
28,244
KORBIN COMPANY
Comparative Balance Sheets
December 31, 2019, 2018, and 2017
2019
2018
2017
Assets
Current assets
$
58,718
$
39,300
$
52,535
Long-term investments
0
500
4,280
Plant assets, net
109,047
99,561
58,646
Total assets
$
167,765
$
139,361
$
115,461
Liabilities and Equity
Current liabilities
$
24,494…
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Russell Department Stores, Inc.
Income Statement Compared with Industry Average
Year Ended December 31, 2018
Russell
Industry Average
Net sales revenue
$780,000
100.0 %
Cost of goods sold
524,940
65.8
Gross Profit
255,060
34.2
Operating Expenses
162,240
19.7
Operating Income
92,820
14.5
Other Expenses
7,800
0.4
Net Income
85,020
14.1 %
MORE INFO: Russell/industry average
Total Assets
$480,000
100.0 %
total Liabilities
327,360
64.7
total Liabilities and Stockholders' Equity $480,000 100.0 %
SOLVE for % of total (round total to one decimal place x.x%)
Amount
Percent of total
Net Sales Revenue
780,000
Cost of goods sold
524,940
gross profit
255,060
operating expenses
162240
operating income
92820
other expenses
7800
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The comparative statements of Pharoah Company are presented here:
Pharoah CompanyIncome StatementsFor the Years Ended December 31
2020
2019
Net sales
$1,898,740
$1,758,700
Cost of goods sold
1,066,740
1,014,200
Gross profit
832,000
744,500
Selling and administrative expenses
508,200
487,200
Income from operations
323,800
257,300
Other expenses and losses
Interest expense
23,400
21,400
Income before income taxes
300,400
235,900
Income tax expense
93,400
74,400
Net income
$207,000
$161,500
Pharoah CompanyBalance SheetsDecember 31
Assets
2020
2019
Current assets
Cash
$60,100
$64,200
Debt investments (short-term)
74,000
50,000
Accounts receivable
126,000
111,000
Inventory
127,400
116,900
Total current assets
387,500
342,100
Plant assets…
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The comparative statements of Pharoah Company are presented here:
Pharoah CompanyIncome StatementsFor the Years Ended December 31
2020
2019
Net sales
$1,898,740
$1,758,700
Cost of goods sold
1,066,740
1,014,200
Gross profit
832,000
744,500
Selling and administrative expenses
508,200
487,200
Income from operations
323,800
257,300
Other expenses and losses
Interest expense
23,400
21,400
Income before income taxes
300,400
235,900
Income tax expense
93,400
74,400
Net income
$207,000
$161,500
Pharoah CompanyBalance SheetsDecember 31
Assets
2020
2019
Current assets
Cash
$60,100
$64,200
Debt investments (short-term)
74,000
50,000
Accounts receivable
126,000
111,000
Inventory
127,400
116,900
Total current assets
387,500
342,100
Plant assets…
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Selected comparative financial statements of Haroun Company follow.
HAROUN COMPANY
Comparative Income Statements
For Years Ended December 31, 2021–2015
($ thousands)
2021
2020
2019
2018
2017
2016
2015
Sales
$ 2,272
$ 1,989
$ 1,810
$ 1,659
$ 1,548
$ 1,440
$ 1,180
Cost of goods sold
1,634
1,329
1,143
1,001
930
870
693
Gross profit
638
660
667
658
618
570
487
Operating expenses
486
380
349
257
223
220
183
Net income
$ 152
$ 280
$ 318
$ 401
$ 395
$ 350
$ 304
HAROUN COMPANY
Comparative Year-End Balance Sheets
December 31, 2021–2015
($ thousands)
2021
2020
2019
2018
2017
2016
2015
Assets
Cash
$ 85
$ 113
$ 117
$ 120
$ 124
$ 123
$ 127
Accounts receivable, net
613
644
583
447
394
373
263
Merchandise inventory
2,218
1,615
1,411
1,189
1,068
907
658
Other current assets
57
51
32
56
48
48
25
Long-term investments
0
0
0
175
175
175
175
Plant assets, net
2,715
2,704
2,365
1,334
1,379
1,226
1,052
Total assets
$ 5,688
$ 5,127
$ 4,508
$ 3,321…
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Mac Donald company reported the following on its comparative income statement:
2017
2018
2019
Revenue
9,000
10,000
14,000
Cost of goods sold
6,000
4,000
9,000
Prepare a horizontal analysis of revenue , cost of goods sold and gross profit
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GIVE THE COMPARATIVE INCOME STATEMENT HORIZONTAL AND VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW
JOLLIBEE INCOME STATEMENT
ITEM
2016
2017
2018
2019
2020
Sales/Revenue
113.81B
133.61B
161.17B
179.63B
129.31B
Sales Growth
-
17.40%
20.62%
11.45%
-28.01%
Cost of Goods Sold (COGS) incl. D&A
-
-
132.96B
150.88B
115.39B
COGS Growth
-
-
-
13.47%
-23.52%
COGS excluding D&A
89.27B
105.39B
121.08B
137.38B
100.82B
Depreciation & Amortization Expense
4B
4.75B
11.89B
13.5B
14.57B
Depreciation
3.93B
4.66B
11.73B
13.34B
14.32B
Amortization of Intangibles
68.99M
78.95M
151.82M
145.42M
245.23M
Gross Income
20.54B
23.48B
28.21B
28.75B
13.92B
Gross Income Growth
-
14.30%
20.12%
1.93%
-51.57%
Gross Profit Margin
-
-
-
-
10.77%
SG&A Expense
-
-
17.64B
20.21B
20.42B
SGA Growth
-
-
-…
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Data for Micatin Designs, Inc. follow:
Data table
Micatin Designs, Inc.
Comparative Income Statement
Years Ended December 31, 2024 and 2023
2024
2023
Net Sales Revenue
$429,000
$374,000
Expenses:
Cost of Goods Sold
201,000
187,000
Selling and Administrative Expenses
97,450
92,750
Other Expenses
8,500
3,250
Total Expenses
306,950
283,000
Net Income
$122,050
$91,000
.
Requirements
1.
Prepare a comparative common-size income statement for
Micatin
Designs, Inc. using the
2024
and
2023
data. Round percentages to one-tenth percent.
2.
To an investor, how does
2024
compare with
2023?
Explain your reasoning.
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The following are the financial statement JNC Ltd. for the year ended 31 March 2020:
JNC Ltd.
Income statement
For the year ended 31 March 2020
$”M”
Revenue
1276.50
Cost of sales
(907.00)
369.50
Distribution costs
(62.50)
Administrative expenses
(132.00)
175.00
Interest received
12.50
Interest paid
(37.50)
150.00
Tax
(70.00)
Profit after tax
80.00
JNC Ltd.
Statement of financial position as at 31 March
2020
2019
$”M”
$”M”
ASSETS:
Non- current assets:
Property, plant and equipment
190
152.5
Intangible assets
125
100
Investments
12.5
Current assets:
Inventories
75
51
Receivables
195
157.5
Short-term investment
25
Cash in hand
1
0.5
Total assets
611
474
Equity and liabilities:
Equity:
Share capital
(10 million ordinary shares of $ 10 per value)
100
75
Share premium
80
75
Revolution reserve
50
45.5
Retained earnings
130
90
Non-current liabilities:
Loan
85
25…
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Please see attached scans depicting company data and industry averages.
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The comparative statements of Blossom Company are presented here:
Blossom CompanyIncome StatementsFor the Years Ended December 31
2020
2019
Net sales
$1,899,640
$1,759,600
Cost of goods sold
1,067,640
1,015,100
Gross profit
832,000
744,500
Selling and administrative expenses
509,100
488,100
Income from operations
322,900
256,400
Other expenses and losses
Interest expense
23,500
21,500
Income before income taxes
299,400
234,900
Income tax expense
93,500
74,500
Net income
$205,900
$160,400
Blossom CompanyBalance SheetsDecember 31
Assets
2020
2019
Current assets
Cash
$60,100
$64,200
Debt investments (short-term)
74,000
50,000
Accounts receivable
126,900
111,900
Inventory
127,500
117,000
Total current assets
388,500
343,100
Plant assets…
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An extract from an outdoor
equipment company's 2021 financial
statements follows: Income
statement Year ended December 31,
2021 Year ended December 31, 2020
Sales 27,764 26,982 Net income
1,132 (322) What was the company's
profitability ratio for 2021?
O A. 13.7%
OB. 8.8%
O C. 4.08%
O D. 7.9%
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32
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Selected comparative financial statements of Haroun Company follow.
HAROUN COMPANY
Comparative Income Statements
For Years Ended December 31, 2021–2015
($ thousands) 2021 2020 2019 2018 2017 2016 2015
Sales $ 2,766 $ 2,423 $ 2,204 $ 2,020 $ 1,885 $ 1,753 $ 1,437
Cost of goods sold 1,990 1,619 1,393 1,219 1,133 1,059 844
Gross profit 776 804 811 801 752 694 593
Operating expenses 592 463 425 314 272 268 223
Net income $ 184 $ 341 $ 386 $ 487 $ 480 $ 426 $ 370
HAROUN COMPANY
Comparative Year-End Balance Sheets
December 31, 2021–2015
($ thousands) 2021 2020 2019 2018 2017 2016 2015
Assets
Cash $ 93 $ 123 $ 127 $ 130 $ 135 $ 133 $ 138
Accounts receivable, net 667 700 634 486 428 405 286
Merchandise inventory 2,411 1,755 1,534 1,292 1,161 986 715
Other current assets 62 56 34 61 52 53 28
Long-term investments 0 0 0 190 190 190 190
Plant assets, net 2,950 2,939 2,571 1,451 1,499 1,333 1,143
Total assets $ 6,183 $ 5,573 $ 4,900 $ 3,610 $ 3,465 $ 3,100 $ 2,500
Liabilities and…
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Problem 1: Viance Queen Company
Required:
Compute for the company’s profitability and operating efficiency ratios for 2019
Compute for the financial health ratios of the company for 2019
B.Operating Efficiency
Days in Inventory
AR Turnover
Days in AR
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Current Attempt in Progress
The comparative statements of Pharoah Company are presented here.
Pharoah Company
Income Statements
For the Years Ended December 31
Net sales
Cost of goods sold
Gross profit
Selling and administrative expenses
Income from operations
Other expenses and losses
Interest expense
Income before income taxes
Income tax expense
Net income
2025
$2,104,400
1,167,000
937,400
570.000
367,400
25.080
342,320
102,696
$239,624
2024
$1,960,000
1,146.840
813,160
546,060
267.100
22,800
244.300
73,290
$171.010
Assets
Current assets
Cash
Debt investments (short-term)
Accounts receivable (net)
Inventory
Total current assets
Plant assets (net)
Total assets
Pharoah Company
Balance Sheets
December 31
Liabilities and Stockholders' Equity.
Current liabilities
Accounts payable
Income taxes payable
Total current liabilities
Bonds payable
Total liabilities
Stockholders' equity
2025
$68,514
84,360
134,292
143,640
430,806
739,860
$1,170,666
$182,400
49,590
231,990
250,800
482,790
2024…
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The comparative statements of Wahlberg Company are presented here.
Wahlberg CompanyIncome StatementFor the Years Ended December 31
2020
2019
Net sales
$1,813,600
$1,750,700
Cost of goods sold
1,007,100
978,000
Gross profit
806,500
772,700
Selling and administrative expenses
519,800
472,000
Income from operations
286,700
300,700
Other expenses and losses
Interest expense
17,100
14,200
Income before income taxes
269,600
286,500
Income tax expense
80,015
77,500
Net income
$ 189,585
$ 209,000
Wahlberg CompanyBalance SheetsDecember 31
Assets
2020
2019
Current assets
Cash
$60,600
$64,600
Debt investments (short-term)
69,100
50,300
Accounts receivable
117,500
102,800
Inventory
123,600
115,600
Total current assets
370,800
333,300…
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The comparative statements of Osborne Company are presented here: [{HtmlTableOSBORNE COMPANYIncome StatementsFor the Years Ended December 312014 2013Net sales $1,895,999 $1,755,959Cost of goods sold 1,063,999 1,011,459Gross profit 832,000 744,500Selling and administrative expenses 505,459 484,459Income from operations 326,541 260,041Other expenses and losses Interest expense 23,583 21,583Income before income taxes 302,958 238,458Income tax expense 93,583 74,583Net income $209,375 $163,875\\OSBORNE COMPANYBalance SheetsDecember 31Assets 2014 2013Current assets Cash $60,100 $64,200Debt investments (short-term) 74,000 50,000Accounts receivable 123,259 108,259Inventory 127,583 117,083Total current assets 384,942 339,542Plant assets (net) 663,905 535,205Total assets $1,048,847 $874,747Liabilities and Stockholders' Equity Current liabilities Accounts payable $165,459 $150,859Income taxes payable 45,083 43,583Total current liabilities 210,542 194,442Bonds payable 234,905 214,905Total…
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The comparative statements of Oriole Company are presented here:
ORIOLE COMPANYIncome StatementsFor the Years Ended December 31
2022
2021
Net sales
$1,895,640
$1,755,600
Cost of goods sold
1,063,640
1,011,100
Gross profit
832,000
744,500
Selling and administrative expenses
505,100
484,100
Income from operations
326,900
260,400
Other expenses and losses
Interest expense
23,600
21,600
Income before income taxes
303,300
238,800
Income tax expense
93,600
74,600
Net income
$209,700
$164,200
ORIOLE COMPANYBalance SheetsDecember 31
Assets
2022
2021
Current assets
Cash
$60,100
$64,200
Debt investments (short-term)
74,000
50,000
Accounts receivable (net)
122,900
107,900
Inventory
127,600
117,100
Total current assets
384,600
339,200
Plant assets (net)
659,000
530,300…
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The comparative statements of Crane Company are presented here.
Crane CompanyIncome StatementFor the Years Ended December 31
2022
2021
Net sales
$1,817,500
$1,753,100
Cost of goods sold
1,008,600
978,000
Gross profit
808,900
775,100
Selling and administrative expenses
519,200
480,800
Income from operations
289,700
294,300
Other expenses and losses
Interest expense
18,900
14,100
Income before income taxes
270,800
280,200
Income tax expense
81,512
78,000
Net income
$ 189,288
$ 202,200
Crane CompanyBalance SheetsDecember 31
Assets
2022
2021
Current assets
Cash
$60,300
$64,500
Debt investments (short-term)
68,300
50,500
Accounts receivable (net)
116,100
101,000
Inventory
122,700
115,200
Total current assets
367,400
331,200…
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Excerpts from Hulkster Company's December 31, 2024 and 2023, financial statements are presented below:
Accounts receivable
Merchandise inventory
Net sales.
Cost of goods sold
Total assets
Total shareholders' equity
. Net income
Hulkster's 2024 return on assets is closest to:
Multiple Choice
13.5%.
7.1%.
47.7%..
7,8%.
2024
2023
$ 40,000 $ 36,000
28,000
35,000
190,000
114,000
425,000
240,000
32,500
186,000
108,000
405,000
225,000
28,000
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Publisher:Cengage Learning
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- Problem: The financial statements of Muscat Company appear below: MUSCAT COMPANY Income Statement For the Year Ended December 31, 2023 Net sales Cost of goods sold Gross profit \table[[$400,000dearrow_forwardplease answerarrow_forwardThe following income statement appears in the financial report of MERCADO Company for the year ending December 31, 2020: MERCADO Company Income Statement For the year ending December 31. 2020 Sales 72,485,000.00 Cost of goods sold Gross profit 39.866,750.00 32.618.250.00 Less: Operating expenses: Variable selling expenses: Salesmen's commissions 3,624,250.00 Communication expenses 1,812.125.00 Advertising and promotion 635.350.00 Representation expenses 215.385.00 Gas and oil - salesmen 1,285.000.00 Repairs and maintenance 1,150.000.00 3.722.110.00 Fixed selling expenses Salaries and wages 4,225,000.00 Franchises and royalties 524,150.00 Office supplies and materials 555.000.00 Depreciation 963 300.00 6.267,450.00 14.989,560.00 Fixed administrative expenses Salaries and wages 6.324,650.00 Employee benefits 316,490.00 Communications expenses 335,125.00 Office supplies and materials 275,150.00 Depreciation 325,500.00 104 250.00 7.681,165.00 9.947.525.00 Miscellaneous expenses Operating…arrow_forward
- Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,260 $ 1,979 $ 1,801 $ 1,651 $ 1,540 $ 1,432 $ 1,174 Cost of goods sold 1,625 1,322 1,137 995 925 865 689 Gross profit 635 657 664 656 615 567 485 Operating expenses 483 378 347 256 222 219 182 Net income $ 152 $ 279 $ 317 $ 400 $ 393 $ 348 $ 303 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 111 $ 147 $ 153 $ 156 $ 162 $ 160 $ 165 Accounts receivable, net 800 840 760 583 514 487 343 Merchandise inventory 2,893 2,106 1,840 1,551 1,393 1,183 858 Other current assets 74 67 41 74 62 63 33 Long-term investments 0 0 0 228 228 228 228 Plant assets, net 3,541 3,527 3,086 1,740 1,799 1,599 1,373 Total assets $ 7,419 $ 6,687 $ 5,880 $ 4,332 $ 4,158 $ 3,720 $ 3,000 Liabilities and…arrow_forwardA company reported the following data for the year ending 2018: Description Amount Sales Sales discount Sales returns and allowances $400,000 $16,000 $13,000 $117,000 $153,000 |Cost of goods sold |Operating expense Income tax expense $23,750 Compute the amount of gross profit to be reported on the income statement. a. $101,000 b. $117,000 c. $254,000 d. $124,750 Answer O O O Oarrow_forwardKORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 459,716 $ 352,180 $ 244,400 Cost of goods sold 276,749 223,282 156,416 Gross profit 182,967 128,898 87,984 Selling expenses 65,280 48,601 32,261 Administrative expenses 41,374 30,992 20,285 Total expenses 106,654 79,593 52,546 Income before taxes 76,313 49,305 35,438 Income tax expense 14,194 10,108 7,194 Net income $ 62,119 $ 39,197 $ 28,244 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 58,718 $ 39,300 $ 52,535 Long-term investments 0 500 4,280 Plant assets, net 109,047 99,561 58,646 Total assets $ 167,765 $ 139,361 $ 115,461 Liabilities and Equity Current liabilities $ 24,494…arrow_forward
- Russell Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2018 Russell Industry Average Net sales revenue $780,000 100.0 % Cost of goods sold 524,940 65.8 Gross Profit 255,060 34.2 Operating Expenses 162,240 19.7 Operating Income 92,820 14.5 Other Expenses 7,800 0.4 Net Income 85,020 14.1 % MORE INFO: Russell/industry average Total Assets $480,000 100.0 % total Liabilities 327,360 64.7 total Liabilities and Stockholders' Equity $480,000 100.0 % SOLVE for % of total (round total to one decimal place x.x%) Amount Percent of total Net Sales Revenue 780,000 Cost of goods sold 524,940 gross profit 255,060 operating expenses 162240 operating income 92820 other expenses 7800arrow_forwardThe comparative statements of Pharoah Company are presented here: Pharoah CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,898,740 $1,758,700 Cost of goods sold 1,066,740 1,014,200 Gross profit 832,000 744,500 Selling and administrative expenses 508,200 487,200 Income from operations 323,800 257,300 Other expenses and losses Interest expense 23,400 21,400 Income before income taxes 300,400 235,900 Income tax expense 93,400 74,400 Net income $207,000 $161,500 Pharoah CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 126,000 111,000 Inventory 127,400 116,900 Total current assets 387,500 342,100 Plant assets…arrow_forwardThe comparative statements of Pharoah Company are presented here: Pharoah CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,898,740 $1,758,700 Cost of goods sold 1,066,740 1,014,200 Gross profit 832,000 744,500 Selling and administrative expenses 508,200 487,200 Income from operations 323,800 257,300 Other expenses and losses Interest expense 23,400 21,400 Income before income taxes 300,400 235,900 Income tax expense 93,400 74,400 Net income $207,000 $161,500 Pharoah CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 126,000 111,000 Inventory 127,400 116,900 Total current assets 387,500 342,100 Plant assets…arrow_forward
- Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,272 $ 1,989 $ 1,810 $ 1,659 $ 1,548 $ 1,440 $ 1,180 Cost of goods sold 1,634 1,329 1,143 1,001 930 870 693 Gross profit 638 660 667 658 618 570 487 Operating expenses 486 380 349 257 223 220 183 Net income $ 152 $ 280 $ 318 $ 401 $ 395 $ 350 $ 304 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 85 $ 113 $ 117 $ 120 $ 124 $ 123 $ 127 Accounts receivable, net 613 644 583 447 394 373 263 Merchandise inventory 2,218 1,615 1,411 1,189 1,068 907 658 Other current assets 57 51 32 56 48 48 25 Long-term investments 0 0 0 175 175 175 175 Plant assets, net 2,715 2,704 2,365 1,334 1,379 1,226 1,052 Total assets $ 5,688 $ 5,127 $ 4,508 $ 3,321…arrow_forwardMac Donald company reported the following on its comparative income statement: 2017 2018 2019 Revenue 9,000 10,000 14,000 Cost of goods sold 6,000 4,000 9,000 Prepare a horizontal analysis of revenue , cost of goods sold and gross profitarrow_forwardGIVE THE COMPARATIVE INCOME STATEMENT HORIZONTAL AND VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW JOLLIBEE INCOME STATEMENT ITEM 2016 2017 2018 2019 2020 Sales/Revenue 113.81B 133.61B 161.17B 179.63B 129.31B Sales Growth - 17.40% 20.62% 11.45% -28.01% Cost of Goods Sold (COGS) incl. D&A - - 132.96B 150.88B 115.39B COGS Growth - - - 13.47% -23.52% COGS excluding D&A 89.27B 105.39B 121.08B 137.38B 100.82B Depreciation & Amortization Expense 4B 4.75B 11.89B 13.5B 14.57B Depreciation 3.93B 4.66B 11.73B 13.34B 14.32B Amortization of Intangibles 68.99M 78.95M 151.82M 145.42M 245.23M Gross Income 20.54B 23.48B 28.21B 28.75B 13.92B Gross Income Growth - 14.30% 20.12% 1.93% -51.57% Gross Profit Margin - - - - 10.77% SG&A Expense - - 17.64B 20.21B 20.42B SGA Growth - - -…arrow_forward
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