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20x5 20x4 Sales $2,300,000 1,400,000 $1,900,000 1,200,000 Cost of goods sold Gross margin Operating expenses Depreciation expense 900,000 550,000 120,000 700,000 400,000 100,000 Operating Income Interest expense Net income before taxes 230,000 60,000 170,000 60,000 200,000 50,000 150,000 52,000 Income taxes Net income $110,000 $98,000 Required – Prepare a full ratio analysis for 20x4 and 20x5 for Yeo Company.

20x5 20x4 Sales $2,300,000 1,400,000 $1,900,000 1,200,000 Cost of goods sold Gross margin Operating expenses Depreciation expense 900,000 550,000 120,000 700,000 400,000 100,000 Operating Income Interest expense Net income before taxes 230,000 60,000 170,000 60,000 200,000 50,000 150,000 52,000 Income taxes Net income $110,000 $98,000 Required – Prepare a full ratio analysis for 20x4 and 20x5 for Yeo Company.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 4-6 The comparative financial statements for the Yeo Company are as follows. Yeo Company Balance Sheets as at December 31 ... 20x5 20x4 20x3 ASSETS Current Assets $34,000 220,000 340,000 594,000 $25,000 200,000 350,000 575,000 Cash $12,000 275,000 425,000 712,000 Accounts receivable Inventory Fixed Assets – net 1,450,000 1,420,000 1,300,000 $2,162,000 $2,014,000 $1,875,000 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Long-term debt $379,000 $371,000 850,000 350,000 800,000 920,000 1,299,000 1,221,000 1,150,000 Shareholders' Equity Common stock Retained earnings 300,000 563,000 863,000 300,000 493,000 793,000 300,000 425,000 725,000 $2,162,000 $2,014,000 $1,875,000
Transcribed Image Text:Problem 4-6 The comparative financial statements for the Yeo Company are as follows. Yeo Company Balance Sheets as at December 31 ... 20x5 20x4 20x3 ASSETS Current Assets $34,000 220,000 340,000 594,000 $25,000 200,000 350,000 575,000 Cash $12,000 275,000 425,000 712,000 Accounts receivable Inventory Fixed Assets – net 1,450,000 1,420,000 1,300,000 $2,162,000 $2,014,000 $1,875,000 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Long-term debt $379,000 $371,000 850,000 350,000 800,000 920,000 1,299,000 1,221,000 1,150,000 Shareholders' Equity Common stock Retained earnings 300,000 563,000 863,000 300,000 493,000 793,000 300,000 425,000 725,000 $2,162,000 $2,014,000 $1,875,000
Yeo Company Income Statements for the year ended December 31 ... 20x5 20x4 Sales $2,300,000 1,400,000 $1,900,000 1,200,000 Cost of goods sold Gross margin Operating expenses Depreciation expense 900,000 550,000 120,000 700,000 400,000 100,000 Operating Income Interest expense Net income before taxes 230,000 60,000 170,000 60,000 200,000 50,000 150,000 52,000 Income taxes Net income $110,000 $98,000 Required - Prepare a full ratio analysis for 20x4 and 20x5 for Yeo Company.
Transcribed Image Text:Yeo Company Income Statements for the year ended December 31 ... 20x5 20x4 Sales $2,300,000 1,400,000 $1,900,000 1,200,000 Cost of goods sold Gross margin Operating expenses Depreciation expense 900,000 550,000 120,000 700,000 400,000 100,000 Operating Income Interest expense Net income before taxes 230,000 60,000 170,000 60,000 200,000 50,000 150,000 52,000 Income taxes Net income $110,000 $98,000 Required - Prepare a full ratio analysis for 20x4 and 20x5 for Yeo Company.
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