b) by what percentage did net income grow each year?c) for example, revenues (increased or declined) in 2013 by 10.02%, however, cost of goods sold (declined or increased) by 7.70% See Table 2.5 showing financial statement data and stock price data for Mydeco Corp.a. By what percentage did Mydeco's revenues grow each year from 2013 to 2016?b. By what percentage did net income grow each year?c. Why might the growth rates of revenues and net income differ?a. By what percentage did Mydeco's revenues grow each year from 2013 to 20167The revenues growth for year 2013 is - 10.02 %. (Round to two decimal places.)The revenues growth for year 2014 is 16.71 %. (Round to two decimal places.)The revenues growth for year 2015 is 20.28 %. (Round to two decimal places.)The revenues growth for year 2016 is 18.29%. (Round to two decimal places.)b. By what percentage did net income grow each yearThe net income growth for year 2013 is %. (Round to two decimal places.)The net income growth for year 2014 is %. (Round to two decimal places.)The net income growth for year 2015 is %. (Round to two decimal places.)The net income growth for year 2016 is %. (Round to two decimal places.)c. Why might the growth rates of revenues and net income differ? (Select from the drop-down menus.)different rates than revenues. For example, revenuesin 2013 by 10.02%, however, cost of goods soldV by 7.70%.Net income growth rate differs from revenue growth rate because cost of goods sold and other expenses can move This test: 6 point(s)Data table2012-2016 Financial Statement Data and Stock Price Data for Mydeco Corp.(All data as of fiscal year end; in $ millions)Income Statement20122013201420152016Revenue404.3363.8424.6510.7604.1Cost of Goods Sold(188.3)(173.8)(206.2)(246.8)263.9(293.4)Gross Profit216.0190.0218.4310.7Sales and Marketing(66.7)(60.6)(27.3)61.4(66.4)(59.1)(27.0)(82.8)(59.4)(34.3)(102.1)(66.4)(38.4)(120.8)(78.5)(38.6)AdministrationDepreciation & AmortizationEBIT37.541.957.072.8Interest Income (Expense)(33.7)(32.9)(32.2)(37.4)(39.4)Pretax Income27.74.69.719.633.4Income Tax(6.9)(1.2)(2.4)(4.9)(8.4)Net Income20.83.47.314.725.05555555555Shares Outstanding (millions)Earnings per Share$0.38$0.06$0.13$0.27$0.4520122013201420152016Balance SheetAssets80.991.748.869.387.7Cash76.986.188.669.869.8Accounts Receivable35.330.928.431.733.7Inventory185.9189.5213.1171.1170.0Total Current Assets

Net income means the portion of total revenue left after deducting all the expenses. The change in…

Answered: b) by what percentage did net income…

b) by what percentage did net income grow each year? c) for example, revenues (increased or declined) in 2013 by 10.02%, however, cost of goods sold (declined or increased) by 7.70%

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.14P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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Use the common-size financial statements found here: ommon-Size Balance Sheet 2016Cash and marketable securities $ 480 1.5 %Accounts receivable 6,030 18.2Inventory 9,540 28.8Total current assets $ 16,050 48.5 %Net property, plant, and equipment 17,020 51.5Total assets $33,070 100.0 %Accounts payable $ 7,150 21.6 %Short-term notes 6,850 20.7Total current liabilities $ 14,000 42.3 %Long-term liabilities 7,010 21.2Total liabilities $ 21,010 63.5 %Total common shareholders’ equity 12,060 36.5Total liabilities and shareholders’ equity $33,070 100.0 %Common-Size Income Statement 2016Revenues $ 30,000 100.0 %Cost of goods sold (20,050) 66.8Gross profit $ 9,950 33.2 %Operating expenses (7,960) 26.5Net operating income $ 1,990 6.6 %Interest expense (940) 3.1Earnings before taxes $ 1,050 3.5 %Income taxes (382) 1.3Net income $668 2.2 % Specifically, write up a brief narrative that responds to the following questions: a. How much cash does Patterson have on hand relative to its total…