Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents 1 Year Ago 103.6% 109.9 101.4 Sales Cost of goods sold Operating expenses Current Year 100.0% 63.5 14.4 1 Year 2 Years Ago Ago 100.0% 100.0% 61.3 57.8 13.9 14.2 Current Year 104.8% 115.1 106.4 2 Years Ago 100.0% 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period?
Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents 1 Year Ago 103.6% 109.9 101.4 Sales Cost of goods sold Operating expenses Current Year 100.0% 63.5 14.4 1 Year 2 Years Ago Ago 100.0% 100.0% 61.3 57.8 13.9 14.2 Current Year 104.8% 115.1 106.4 2 Years Ago 100.0% 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Exercise 13-5 (Algo) Determining income effects from common-size and trend percents LO P1, P2
Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow.
Common-Size Percents
Trend Percents
Sales
Cost of goods sold
Operating expenses
Current
Year
100.0%
63.5
14.4
Change in Net
Income
1 Year 2 Years Current
Year
104.8%
Ago
100.0%
61.3
13.9
Sales
Cost of Goods Sold
Operating Expenses
Net Income
Ago
100.0%
57.8
14.2
Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year
period?
Complete this question by entering your answers in the tabs below.
115.1
106.4 101.4
Net Income
Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year?
Note: Enter all amounts as positive values.
Current Year 1 Year Ago 2 Years Ago
105,000 $ 103,800 $
100,000
<Change in Net Income
1 Year 2 Years
Ago
Ago
103.6% 100.0%
109.9
100.0
100.0
$
57,800
14,200
28,000
Net ircome
>
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