(1-a) Compute profit margin ratio for the current year and one year ago.(1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago?Complete this question by entering your answers in the tabs below.Required 1A Required 18Compute profit margin ratio for the current year and one year ago.Profit Margin RatioCurrent Year:1 Year Ago:Net incomeNumerator:1Required 1ADenominator:Required 18Profit Margin RatioProfit margin ratio0%0% Required information[The following information applies to the questions displayed below.]Simon Company's year-end balance sheets follow.At December 31AssetsCashAccounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assetsLiabilities and EquityAccounts payableLong-term notes payable.Common stock, $10 par valueRetained earningsTotal liabilities and equityCurrent Year$ 30,80088,100111,00010,900280,000$ 520,800$ 128,40098,000163,500130,900$ 520,800Current Year1 Year Ago$ 35,00061,50082,4009,300250,500$ 438,700$ 478,850243,35012,1009,550$73,750101,750163,50099,700$438,700The company's income statements for the Current Year and 1 Year Ago, follow.For Year Ended December 31SalesCost of goods soldOther operating expenses$785,000Interest expenseIncome tax expenseTotal costs and expensesNet incomeEarnings per shareFor both the Current Year and 1 Year Ago, compute the following ratios:743,850$ 41,150$ 2.522 Years Ago$38,20050,000$2,5004,800230,000$375,500$50,20083,400163,50078,400$375,500(1-0) Compute profit margin ratio for the current year and one year ago.(1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago?$ 378,000150,0001 Year Ago13,0008,825$ 600,000549,825$50,175$ 3.07

Profit Margin Ratio: It refers to a financial ratio that measures the profits earned by the…

(1-0) Compute profit margin ratio for the current year and one year ago. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Compute profit margin ratio for the current year and one year ago. Profit Margin Ratio Current Year: 1 Year Ago: Net income Numerator: 1 Required 1A Denominator: Required 18 > Profit Margin Ratio Profit margin ratio 0% 0%

(1-0) Compute profit margin ratio for the current year and one year ago. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Compute profit margin ratio for the current year and one year ago. Profit Margin Ratio Current Year: 1 Year Ago: Net income Numerator: 1 Required 1A Denominator: Required 18 > Profit Margin Ratio Profit margin ratio 0% 0%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Practice Help
1. Given this information, what is the profit percent? Format your answer to two decimal places and add a %-sign (i.e. 4.52%) Net Sales $561,800 Cost of Goods Sold 275,280 Expenses 253,936 2. Given this information, what is the profit dollars? Round your answer to the dollar and add a dollar sign and comma separator (i.e. $15,467) Net Sales $561,800 Cost of Goods Sold 275,280 Expenses 253,936 3. Given the information below, what is the profit dollars? Round your answer to the dollar and add a dollar sign and comma separator (i.e. $15,467) Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140 4. Given the information below, what is the profit percent? Round your answer to two decimal places and add a percent sign (i.e. 15.37%) Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140 5. Given the information below, what are…
someone help me with excel plz also show me how can i use the execl
COMPANY B Balance Sheets December 31, Year 2 and Year 1 Year 2 Year 1 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land $ 217,600 58,000 85,000 3,000 $ 110,000 82,000 70,000 1,000 380,000 690,000 (328,000) $1,105,600 380,000 570,000 (168,000) $1,045,000 Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings $ 89,000 $4 5,000 7,000 75,000 11,000 4,000 120,000 240,000 600,000 284,600 $1,105,600 $1,045,000 600,000 115,000 Total liabilities and stockholders' equity Additional information for Year 2: 1. Net income is $169,600. 2. Sales on account are $1,183,000. 3. Cost of goods sold is $953,250. Required: 1. Calculate the following profitability ratios for Year 2: (Round vour answers to 1 decimal place.)
Based on the information in the image, calculate the percentage+ dollar increase for each row and list the 3 largest assets, including the dollar ($) amount and percentage (%) increase.
Vertical analysis (common-size) percentages for Baker Company’s sales revenue, cost of goods sold, and expenses are as follows. Did Baker’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer. Vertical Analysis 2020 2019 2018 Sales revenue 100.0% 100.0% 100.0% Cost of goods sold 60.0 63.9 65.0 Expenses 26.0 26.6 27.5
only 5b photo thanks!
Please do not give solution in image format
Use the Income Statement worksheet below to answer: Which of the following items on the Income Statement connects to the same year’s Balance Sheet? Question 3 options: Liability Insurance Net Income EBT Gross Profit EBTDA
Please do not give solution in image format thanku
YOu skipped this question In the previous attempt. A1 The list below shows select accounts for Reading Readiness Company as of B D E G. 1 The list below shows select accounts for Reading Readiness Company as of January 31, 20X1. (Accounts are in alphabetical order.) 3 Accounts Payable $ 4. 8,088 Accounts Receivable 6,960 6 Cash 13,445 Equipment 4,800 8 Insurance Expense 1,350 Operating Expense Other Expenses 11,800 10 3,482 11 Other Revenues 6,050 12 4,800 Rent Expense Salaries Expense 6,882 17,200 15,400 13 14 Short-term Notes Payable 15 Test Prep Revenue 16 9,100 Tutoring Revenue Unearned Revenue 17 1,046 8 9 Required: P 1. Prepare an Income Statement for the month ended January 31, 20X1. Use cell references 1 to select account titles and amounts to be included on the income statement. Note: List revenues and expenses in order of largest to smallest dollar amounts. 2. After entering the formula in cell C42, use the Excel IF function to label cell B42 as either "Net Income" or Sheet1…
Only 6B question. Thanks!