b. By what percentage did the net income grow each year?For example, revenues (increased or decreased) in 2013 x 10.02% however, cost of goods sold (declined or increased) by 7.70%.*Use the Data Table* Data table2012-2016 Financial Statement Data and Stock Price Data for Mydeco Corp.(All data as of fiscal year end; in $ millions)2013Income Statement2012201420152016404.3363.8424.6510.7604.1Revenue(206.2)218.4(293.4)(246.8)263.9Cost of Goods Sold(188.3)(173.8)Gross Profit216.0190.0310.7(66.7)(60.6)(27.3)(66.4)(59.1)(27.0)(82.8)(59.4)(34.3)(102.1)(66.4)(38.4)(120.8)(78.5)(38.6)Sales and MarketingAdministrationDepreciation & AmortizationEBIT61.437.541.957.072.8(37.4)(39.4)(33.7)27.7(32.2)9.7Interest Income (Expense)(32.9)4.619.633.4Pretax Income(1.2)(2.4)(4.9)(8.4)(6.9)20.8Income TaxNet IncomeShares Outstanding (millions)Earnings per ShareBalance Sheet3.47.314.725.05555555555$0.13$0.27$0.45$0.062013$0.382012201420152016Assets48.869.387.780.991.7Cash88.669.869.876.986.1Accounts Receivable33.730.928.431.735.3InventoryTotal Current Assets213.1347.0171.1170.0185.9189.5243.3309.0345.6Net Property, Plant & EquipmentGoodwill & IntangiblesTotal AssetsLiabilities & Stockholders' EquityAccounts PayableAccrued CompensationTotal Current Liabilities245.3361.7361.7361.7361.7361.7778.1775.0856.6896.8921.818.717.922.026.831.76.76.47.08.19.725.424.329.034.941.4500.0500.0575.0600.0600.0Long-Term DebtTotal LiabilitiesStockholders' EquityTotal Liabilities & Stockholders'EquityStatement of Cash Flows524.3604.0634.9641.4525.4252.7250.7252.6261.9280.4778.1775.0856.6896.8921.82013201420152016201220.83.47.314.725.0Net Income34.338.438.627.327.0Depreciation & AmortizationChange in Accounts Receivable(7.1)(3.3)(9.2)(3.6)6.53.918.80.02.82.5(2.9)2.2Change in InventoryChange in Pay. & Accrued CompCash from OperationsCapital ExpendituresCash from Investing Activ.Dividends Paid5.9(1.1)50.94.748.848.657.351.3(40.0)(40.0)(6.5)(75.0)(25.0)(25.0)(5.4)(25.0)(100.0)(25.0)(5.4)(100.0)(5.4)(75.0)(5.4)Sale (or Purchase) of StockDebt Issuance (Pay Down)Cash from Financing Activ.Change in CashMydeco Stock Price25.075.069.6(6.5)10.819.6(5.4)20.9(5.4)20.5$3.30(6.8)$8.7118.4$5.25$10.89$7.92PrintDone b. by what percentage did net ncome yuw cach year?The 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.)Why might the growth rates of revenues and net income differ? (Select from the drop-down menus.)Net income growth rate differs from revenue growth rate because cost of goods sold and other expenses can move at different rates than revenues. For example, revenuesV in 2013 by 10.02%, however, cost of goods soldV by 7.70%.

Net Income Growth %=Change in Net IncomeNet income in the previous year×100

b. uy what percentage The 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.) Why might the growth rates of revenues and net income differ? (Select from the drop-down menus.) Net income growth rate differs from revenue growth rate because cost of goods sold and other expenses can move at different rates than revenues. For example, revenues V in 2013 by 10.02%, however, cost of goods sold by 7.70%

b. uy what percentage The 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.) Why might the growth rates of revenues and net income differ? (Select from the drop-down menus.) Net income growth rate differs from revenue growth rate because cost of goods sold and other expenses can move at different rates than revenues. For example, revenues V in 2013 by 10.02%, however, cost of goods sold by 7.70%

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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