Current AssetsBalance SheetDec 31stInvestmentsCash and cash equivalentsAccounts receivable (net)Blank 2Northside Medical 2021 and 2022 Financial StatementsAmounts in thousands of dollarsProperty, plant, and equipmentIntangibles and other assetsTotal assetsInventoryPrepaid expensesTotal current assets 1,380ExampleCash and cashequivalentsTotal assets2022 2021Current liabilities900790Long-term liabilities 410 380Stockholder's equity - common 1,030 1,040Total liabilities and stockholder'sequity2,340 2,210For an accessible version, see the Excel spreadsheet.Blank 1 Add your answer330470460120Add your answer104205302,3402022$3303604003901601,310$2,340103805102,210Income StatementDec 31stSales RevenueCosts and expenses6 OF 14 QUESTIONS REMAININGCost of goods soldSelling and AdministrativeInterest expenseTotal costs and expensesIncome before income taxesCash + AssetsIncome tax expenseNet Income0.1410expenses 2,400253,3802022 20213,800 3,4609558902,330203,240420126294 154Update to %14.10%Calculate the 2022 Vertical Analysis "Prepaid Expenses" in % using total assets as your base. Fill in the numerator and denominatorusing the financial statements provided (no symbols or commas) and the answer should be in a XX.XX format: Blank 1 + Blank 2 =& Blank 3 %22066

Vertical analysis can be defined as the financial statement's line item being presented as a…

Balance Sheet Dec 31st Current Assets Cash and cash equivalents Accounts receivable (net) Investments Northside Medical 2021 and 2022 Financial Statements Amounts in thousands of dollars Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Example 2022 2021 Cash and cash 330 470 460 120 1,380 10 420 530 2,340 Long-term liabilities Stockholder's equity - common Total liabilities and stockholder's equity For an accessible version, see the Excel spreadsheet. 900 790 410 380 1,030 1,040 2.340 2.210 2022 360 400 390 160 1,310 $220 10 380 510 2.210 Income Statement Dec 31st Sales Revenue Costs and expenses Selling and Administrative Cost of goods sold 955 890 Interest expense Total costs and expenses Income before income taxes expenses 2,400 Income tax expense Net Income Cash + Assets 04410 2022 2021 3,800 3,460 25 3,380 2,330 20 3,240 420 220 126 66 294 154 Update to % 141006

Balance Sheet Dec 31st Current Assets Cash and cash equivalents Accounts receivable (net) Investments Northside Medical 2021 and 2022 Financial Statements Amounts in thousands of dollars Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Example 2022 2021 Cash and cash 330 470 460 120 1,380 10 420 530 2,340 Long-term liabilities Stockholder's equity - common Total liabilities and stockholder's equity For an accessible version, see the Excel spreadsheet. 900 790 410 380 1,030 1,040 2.340 2.210 2022 360 400 390 160 1,310 $220 10 380 510 2.210 Income Statement Dec 31st Sales Revenue Costs and expenses Selling and Administrative Cost of goods sold 955 890 Interest expense Total costs and expenses Income before income taxes expenses 2,400 Income tax expense Net Income Cash + Assets 04410 2022 2021 3,800 3,460 25 3,380 2,330 20 3,240 420 220 126 66 294 154 Update to % 141006

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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