a. Prepare a vertical analysis of Danielle's Design Services Income statements. If required, round your percentages to one decimal place. Do not enter the percent sign. Danielle's Design Services Fees earned Expenses: Wages expense Income Statements For the Years Ending December 31 Year 2 Amount Year 2 Percent $765,340 % Year 1 Amount Year 1 Percent $696,520 % $254,000 % $214,600 % Rent expense 120,000 % 108,000 Supplies expense 76,500 % 98,715 % < Miscellaneous expense 11,680 16,420 % Total expenses $462,180 % $437,735 % Income from operations $303,160 % $258,785

a. Prepare a vertical analysis of Danielle's Design Services Income statements. If required, round your percentages to one decimal place. Do not enter the percent sign. Danielle's Design Services Fees earned Expenses: Wages expense Income Statements For the Years Ending December 31 Year 2 Amount Year 2 Percent $765,340 % Year 1 Amount Year 1 Percent $696,520 % $254,000 % $214,600 % Rent expense 120,000 % 108,000 Supplies expense 76,500 % 98,715 % < Miscellaneous expense 11,680 16,420 % Total expenses $462,180 % $437,735 % Income from operations $303,160 % $258,785

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 39E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...

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Round percentages and ratios to the nearest tenth of a percent, dollars to nearest whole dollar. 2. a. ________dollars b. ________ dollars c. ________ dollars d. ________ dollars e. ________ dollars
A vertical analysis of two income statements for Danielle's Design Services is shown below: Danielle's Design Services Income Statements For Years 1 and 2 Ending December 31 Year 2 Year 1 Amount Percent Amount Percent Fees earned $765,340 100.0% $696,520 100.0% Operating expenses: Wages expense $254,000 33.2% $214,600 30.8% Rent expense 120,000 15.7% 108,000 15.5% Supplies expense 76,500 10.0% 98,715 14.2% Miscellaneous expense 11,680 1.5% 16,420 2.4% Total operating expenses $462,180 60.4% $437,735 62.9%* Net income $303,160 39.6% $258,785 37.1%* *Differences due to rounding Which of the following analyses reflect the data given? a.Wages expense and miscellaneous expense show an unfavorable trend, and rent and supplies expenses show an unfavorable trend. b.Wages expense and rent expense show a favorable trend, while supplies and miscellaneous expenses show an unfavorable trend. c.Wages expense and rent expense show an unfavorable trend, while…
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