Excel Practice Sheet

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 Operating…

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…

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

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…

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

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…

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…

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…

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 - - -…

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.

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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What does it mean if a company ratio's are below or above industry average?   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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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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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…

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…

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…

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…

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