Complete the horizontal analysis for Sunshine Carpet Cleaners using the template found below. Compared to the change in the year over year sales, comment on whether the company is operating more or less efficiently in 2022 (compared to 2021) DEC 31 2021 DEC 31 2022 $2,600,000 $2,360,000 $200,000 $180,000 2,400,000 2,180,000 1,200,000 1,038,000 $1,340,000 $1,142,000 Sales Less Returns Net Sales COGS Gross profit Operating expenses Administrative Marketing & Advertising Depreciation 710,000 80,000 40,000 Total Operating Expenses 830,000 510,000 255,000 255,000 Operating profit Income taxes@50% Net income 653,000 76,000 30,000 759,000 383,000 191,500 191,500

Complete the horizontal analysis for Sunshine Carpet Cleaners using the template found below. Compared to the change in the year over year sales, comment on whether the company is operating more or less efficiently in 2022 (compared to 2021) DEC 31 2021 DEC 31 2022 $2,600,000 $2,360,000 $200,000 $180,000 2,400,000 2,180,000 1,200,000 1,038,000 $1,340,000 $1,142,000 Sales Less Returns Net Sales COGS Gross profit Operating expenses Administrative Marketing & Advertising Depreciation 710,000 80,000 40,000 Total Operating Expenses 830,000 510,000 255,000 255,000 Operating profit Income taxes@50% Net income 653,000 76,000 30,000 759,000 383,000 191,500 191,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Use historic growth in total revenues from 2017 to 2017 to show the total revenue for 2019. Use historic rate of the total cost of revenue to total revenue to show total cost of revenue.
Don Williams received a memo requesting that he complete a trend analysis of the following numbers using 2021 as the base year. Sales Gross profit Net income 2024 $ 390,000 210,000 41,100 Could you help Don with the request? 2024 Sales Gross profit Net income % % % 2023 $ 462,000 285,000 53,100 2023 % % % 2022 2022 $ 486,000 410,000 23,100 % % % 2021 2021 $ 600,000 500,000 30,000 100 % 100 % 100 %
Please help me with show all calculation thanku
Quick Ratio Calculate the quick ratio for Los Altos, Inc., for both years, using the financial statements displayed below. Round to nearest hundredth. 2020 2019 Quick Ratio Did the company’s ability to pay its current liabilities improve over the two years? yes or no? Los Altos, Inc. Income Statement For Years Ended December 31, 2020 and 2019 (in millions) 2020 2019 Net sales $13,000 $12,350 Cost of goods sold 6,600 6,240 Gross profit 6,400 6,110 Selling and administrative expenses 3,360 3,240 Income from operations 3,040 2,870 Interest expense 360 300 Income before income taxes 2,680 2,570 Income tax expense 504 480 Net income $2,176 $2,090 Los Altos, Inc. Balance Sheet December 31, 2020 and 2019 (in millions) 2020 2019 Assets Current assets Cash and cash equivalents $240 $480 Accounts receivable 1,080 960 Inventory 600 780 Other current assets 480 300 Total current assets 2,400…
How do I solve this?
Here are the abbreviated financial statements for Planner’s Peanuts: INCOME STATEMENT, 2022 Sales $ 5,000 Cost 3,900 Net income $ 1,100 BALANCE SHEET, YEAR-END 2021 2022 2021 2022 Assets $ 7,500 $ 12,100 Debt $ 833 $ 1,000 Equity 6,667 11,100 Total $ 7,500 $ 12,100 Total $ 7,500 $ 12,100 If sales increase by 10% in 2023 and the company uses a strict percentage of sales planning model (meaning that all items on the income and balance sheet also increase by 10%), what must be the balancing item? What will be the value of this balancing item?
Vijay
Based on this information, create and solve a ratio analysis: In their most recent discussion with VP Finance, they were informed that total sales next year (2022) was expected to be $1,500,000. You should assume the same amount of turnover in 2022 as there was in the past 5 years. Number of new hires and turnover by year Year New Hires Turnover 2017 10 5 2018 20 7 2019 22 9 2020 25 12 2021 15 15 Sales per year Year Service Sales Product Sales 2017 $250,000 $ 200,000 2018 $350,000 $325,000 2019 $400,000 $450,000 2020 $550,000 $600,000 2021 $625,000 $675,000 How many employees need to be hired in 2022, show all calculations
Please help
Pls do fast and i will rate instantly for sure Solution must be in typed form
Please help me
WHY THE FORECAST INCOME HSVE DEACLINE IN THE 2022 AND 2023 OF APPLE COMPANY