Amazon.com, Inc. is the largest Internet retailer in the United States. Amazon's income state-ments through income from operations for two recent years are as follows (in millions):Amazon.com, Inc.Operating Income StatementsFor the Years Ended December 31(in millions)Year 2Year 1Product sales..$60,903$70,080Service sales..13,549$74,45218,908$88,988Total sales.Cost of sales..$62,752$54,181Fulfillment..10,7668,585Marketing ..Technology and content..General and administrative..Other operating expense (income), net .Total operating expenses.Income from operations..4,3323,1336,5659,2751,5521,129133114$88,810$ 178$73,707$ 745Prepare a vertical analysis of the two operating income statements. Roundpercentages to one decimal place.b.a.Use the vertical analysis to explain the decrease in income from operations.

Vertical analysis:Vertical analysis is the method of financial statement analysis, and it is useful…

Answered: Amazon.com, Inc. is the largest…

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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The financial data for Crane's Fresh Fruits Incorporated and Cullumber's Supermarket Ltd. for the current year are as follows: Crane's Fresh Fruits Cullumber's Supermarket (a) Annual Cost of Goods Sold $9,724,440 Inventory turnover 53,026,340 Inventory Jan. 1 $64 100 4,512,200 Crane's Fresh Fruits Inventory Dec. 31 Calculate the inventory turnover for each company. (Round answers to 1 decimal place, e.g. 18.4.) times $756,100 1,128,900 Cullumber's Supermarket times
Use the following to answer questions 6 – 7 MC, Inc., reported the following amounts at the end of the year: Total sales $888,000 Accounts receivable Sales allowances 60,000 3,500 Allowance for Uncollectible accounts 1,400 Sales discounts 18,000 9,000 Sales returns Determine total contra revenues for $ the company 6. 7. $ Determine net sales for the company
s
The following information was taken from the financial statements of Sunland Company: 2021 2020 Gross profit on sales $678,600 $760,000 Income before income taxes 205,400 225,000 Net income 260,000 225,000 Net income as a percentage of net sales 10% 9% Please show steps to finding answer Compute the cost of goods sold in dollars and as a percentage of net sales for each year. (Round percentages to 1 decimal place, e.g. 15.2%) 2021 2020 Cost of goods sold in dollars $enter a dollar amount $enter a dollar amount Cost of goods sold as a percentage of net sales nter percentages rounded to 1 decimal place % nter percentages rounded to 1 decimal place %
Sellall Department Stores reported the following amounts as of its December 31 year- end: Administrative Expenses, $1,800; Cost of Goods Sold, $19,440; Income Tax Expense, $2,790; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $2,000; Net Sales, $32,580; and Delivery (freight-out) Expense, $240. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement
Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $800,000 100 % Cost of goods sold 512,000 70 Gross profit $288,000 30 % Selling expenses $176,000 17 % Administrative expenses 64,000 7 Total operating expenses $240,000 24 % Operating income $48,000 6 % Other revenue 16,000 2 $64,000 8 % Other expense 8,000 1 Income before income tax $56,000 7 % Income tax expense 24,000 5 Net income $32,000 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers.
During the current year, Sokowski Manufacturing earned income of $459,595 from total sales of $6,290,139 and average capital assets of $10,730,071. What is the sales margin? Round to the nearest hundredth, two decimal places and submit the answer in a percentage.
Hoyt Company provides this information for the month of November, 2022: sales on credit $170,000; cash sales $70,000; sales discounts $2,000; and sales returns and allowances $9,000. Prepare the sales revenues section of the income statement based on this information. V: HOYT COMPANY Income Statement (Partial) $ 4

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