4. The following common size income statement are available for GaeaCorporation for the two years ended December 2019, and 201820192018Sales100%100%Cost of sales55%70%Gross profit on sales45%30%Operating(including income taxexpense)expenses20%18%25%12%Net incomeThe trend percentages for sales are as follows:2017130%100%2016What should be the trend percentage for gross profit on sales for 2019A. 58.5%В. 130%С. 150%D. 195%Answer:

Common size analysis of income statement shows each item of income statement as a percentage of…

4. The following common size income statement Corporation for the two years ended December 2019, and 2018 are available for Gaea 2019 2018 Sales 100% 100% Cost of sales 55% 70% Gross profit on sales 45% 30% Operating (including income tax expense) Net income expenses 20% 18% 25% 12% The trend percentages for sales are as follows: 2017 130% 2016 100% What should be the trend percentage for gross profit on sales for 2019 A. 58.5% В. 130% С. 150% D. 195% Answer:

4. The following common size income statement Corporation for the two years ended December 2019, and 2018 are available for Gaea 2019 2018 Sales 100% 100% Cost of sales 55% 70% Gross profit on sales 45% 30% Operating (including income tax expense) Net income expenses 20% 18% 25% 12% The trend percentages for sales are as follows: 2017 130% 2016 100% What should be the trend percentage for gross profit on sales for 2019 A. 58.5% В. 130% С. 150% D. 195% Answer:

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

Abhaliya
HIC GROUP OF Companies COMPARATIVE INCOME STATEMENT For years ended 3rd December 2019 2020 Revenue and gains Sales revenue 495,500 496,738.75 Interest revenue 278,500 279,196.25 Investment Income 71,700 71,879.25 Other revenue 101,500 101,753.75 Total revenue and gains 947,200 949,968 Expenses and losses Cost of good sold 450,000 447,750 Selling&administrative 185,000 184,075 Computer (operating) 42,500 42,288 Depreciation 50,000…
interpret or compare its results from 2018 to 2019
Some selected financial statement items belonging to Tower Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Inventory 12,500 Total Assets in 2021 100,000 Current Liabilities 30,000 Total Assets in 2020 80,000 Net Profit 18,000 Shareholders' Equity 65,000 Select one: a. 24% b. 20% c. 11% d. 15%
Prepare a horizontal analysis of the following comparative income statement for the Buff Bodies Corporation. Round percentage changes to the nearest one-hundredth percent. Buff Bodies Corporation Comparative Income Statement for the Years Ended December 31, 2020 and 2019 2020 2019 Total revenue $1,450,000 $1,300,000 Expenses: Cost of goods sold $ 1,023,000 $ 930,000 Operating expenses 310,000 275,000 Interest expense 12,000 10,000 Income tax expense 48,300 38,000 Total expenses $1,393,300 $1,253,000 Net income $ 56,700 $ 47,000
K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...
using the report given,provide and comment on the following: You meed to analyse the items under the consolidated statement of profit or loss both years 2019 and 2020. Provide an analysis using this part.
Please assist Return on average owner's equity (2018 =40%; industry average = 45%) Round to two decimal places.
The following ratios for The A2 Milk Limited and Synlait Limited were calculated for 2020 and 2019: A2 Milk Ltd. Synlait Ltd. 2020 2019 2020 2019 Return on Assets 44.52% 48.54% 9.33% 12.81% Return on Equity 40.15% 42.83% 13.69% 17.93% Current Ratio 3.69 times 3.15 times 1.00 times 0.76 times Days in Inventory 61 days 54 days 72 days 68 days Debt ratio 21.97% 21.76% 59.36% 57.20% Based on the above ratios, comment on A2 Milk Ltd’s short term and long term financial risk
Analyze the Gross profit ratio and give you a report on the same in 2020 and|2019? Gross profit Gross profit ratio= x100 Net sales In 2019= (25,361,421 /63,161,098) x100 =0.401 x100 =40.153% In 2020= (26,796,019/ 63,441,144) x100 =0.422 x100 =42.237%
(Profitability Ratio)What is the Earnings Per Share in 2020?
Selected ratios formulars Unilever 2021 BOPP 2021 ROCE PBIT / net assets * 100 (32,424/39,406 *100 = - 82% 102,154 / 192,758 *100 =53% Net Assets Turnover Revenue / Net Assets 526,912 / 39,406 = 13 times 214,174 / 192,758 = 1 time Gross Profit Margin Gross profit / revenue *100 97,046 / 526,912 *100 18.4% 115,462 / 214,174 * 100 54% Net Profit Before Tax PBT / revenue * 100 (35,005) / 526,912* 100 = -6.6% 104,778 / 214,174* 100 =48.9% Current Ratio Current assets / current liabilities 214,665/341,171 = 0.5 139,104 / 30,368 = 4.5 Quick Ratio Current assets – inventory / current liabilities 214,665-91,627 /341,171 = 0.4 139,104 -13,248/ 30,368 = 4.1 Inventory Days Inventory / cost of sales * 365 days 91,627/ 429,866 *365 = 77 days 13,248 / 101,397 *365 = 47 days Receivable Days Receivables / cost of sales * 365 days 24,515 / 429,866 *365 =20 days 92,860 / 101,397 *365 =334 days Payable Days…