### French Instrument Corporation and Subsidiaries#### Consolidated Statements of Operation (Unaudited)*(In thousands of dollars, except share data)***Second Quarter 2023 vs 2022**| Category | 2023 | 2022 | Percent of Net Sales 2023 ||-----------------------------------|------------|------------|---------------------------|| **Net Sales** | $6,698 | $6,951 | || **Cost of Sales** | 4,089 | 4,462 | || **Gross Margin** | 2,609 | 2,489 | || **Expenses:** | | | || - Selling, General, and Admin | 2,345 | 2,278 | || - Product Development | 175 | 165 | || - Interest Expense | 98 | 123 | || - Other (Income), Net | (172) | (99) | || **Total Expenses** | 1,946 | 1,972 | || **Income Before Income Taxes** | 663 | 517 | || - Provision for Income Taxes | 265 | 209 | || **Net Income** | $398 | $308 | || **Net Income per Common Share** | $0.05 | $0.03 | || Weighted Average Number of Common Shares and Equivalents | 6,673,673 | 6,624,184 | |* *Income per common share reflects the deduction of the preferred stock dividend from net income.*### Explanation for Graphs/DiagramsThere are no graphs or diagrams in the provided table. Each category lists financial figures for the second quarter of 2023 and 2022, along with relevant computations such as net income and expenses. The analysis also includes a calculation of net income per common share, adjusted for preferred stock dividends.

The Statement of Comprehensive Income - The statement of comprehensive income is the profit earned…

Drill Problem 16-6 (Static) [LU 16-2 (2)] From the French Instrument Corporation second-quarter report ended 2023, do a vertical analysis for the second quarter of 2023. Note: Input all answers as positive values except other (income) which should be indicated by a minus sign. Round your answers to the nearest hundredth percent. Net sales Cost of sales Gross margin FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data) Expenses: Selling, general and administrative Product development Interest expense Other (income), net Total expenses Income before income taxes Provision for income taxes Net income Net income per common share* Weighted average number of common shares and equivalents $ $. $ Second Quarter 2023 6,698 $ 4,089 2,609 1,845 175 98 (172) 1,946 663 265 398 $ 0.05 $ 6,673,673 2022 6,951 4,462 2,489 1,783 165 123 (99) 1,972 517 209 308 0.03 6,624,184 Percent of net *Income per common share reflects the deduction of the preferred stock dividend from net income.

Drill Problem 16-6 (Static) [LU 16-2 (2)] From the French Instrument Corporation second-quarter report ended 2023, do a vertical analysis for the second quarter of 2023. Note: Input all answers as positive values except other (income) which should be indicated by a minus sign. Round your answers to the nearest hundredth percent. Net sales Cost of sales Gross margin FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data) Expenses: Selling, general and administrative Product development Interest expense Other (income), net Total expenses Income before income taxes Provision for income taxes Net income Net income per common share* Weighted average number of common shares and equivalents $ $. $ Second Quarter 2023 6,698 $ 4,089 2,609 1,845 175 98 (172) 1,946 663 265 398 $ 0.05 $ 6,673,673 2022 6,951 4,462 2,489 1,783 165 123 (99) 1,972 517 209 308 0.03 6,624,184 Percent of net *Income per common share reflects the deduction of the preferred stock dividend from net income.

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

Solve this practice problem
Please do not give solution in image format thanku
don't give answer in image format
Please do not give solution in image format thanku
< ces A family friend has asked for your help in analyzing the operations of three anonymous companies. Required: Supply the missing data in the tabulation below: (Negative amounts should be indicated with a minus sign.) Sales Net operating income Average operating assets Return on investment Minimum required rate of return: Percentage Dollar amount Residual income (loss) $ 10,870,000 $ 4,120,000 17 % 15 % Company B $ 6,800,000 $ 240,000 $ 15 % 320,000 % C $ 9,400,000 $ 5,200,000 $ 23 % 156,000 %
Supply the missing data for three service companies shown in the table below: Note: Loss amounts should be indicated by a minus sign. Round your percentage answers to nearest whole percent. Company B A C Sales Net operating income $ 9,120,000 $ 7,200,000 $ 4,680,000 $ 290,000 Average operating assets $ 3,040,000 $ 1,872,000 Return on investment (ROI) 11 % 20 % % Minimum required rate of return. Percentage Dollar amount Residual income 9% % 13 % $ 261,000 $ 93,600
Vishal
Q1) You are required to calculate the Relative Percentage Change in the company for the blanks below and the Net Profit for the other blanks. Show all working out below including the formula used for each year and include the completed table here. Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Net Profit ($ 000’) <blank> 50 200 150 225 250 <blank> 200 250 260 Relative Percentage Change N/A -50% 300% <blank> 50% 11% -30% 14% 25% <blank> Table 1: Net Profit ($) per financial year Q1 a) Using Excel, create a column chart of the Net Profit calculated in part (a) for the years 2010-2019. label the axis and provide an appropriate title. Q1 b) Using Excel, create a Sparkline of the Relative Percentage Change calculated in part (a) for the years 2011-2019. use the Sparkline options to mark if there are any negative values and include a horizontal axis to easily visualise…
Problem 11-17 (Algo) Return on Investment (ROI) and Residual Income [LO11-1, LO11-2] Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, IncorporatedBalance Sheet Beginning Balance Ending Balance Assets Cash $ 139,000 $ 133,000 Accounts receivable 340,000 489,000 Inventory 560,000 487,000 Plant and equipment, net 821,000 791,000 Investment in Buisson, S.A. 395,000 434,000 Land (undeveloped) 254,000 249,000 Total assets $ 2,509,000 $ 2,583,000 Liabilities and Stockholders' Equity Accounts payable $ 378,000 $ 333,000 Long-term debt 1,041,000 1,041,000 Stockholders' equity 1,090,000 1,209,000 Total liabilities and stockholders' equity $ 2,509,000 $ 2,583,000 Joel de Paris, IncorporatedIncome Statement Sales $ 5,264,000 Operating expenses 4,369,120 Net operating income 894,880 Interest and taxes: Interest expense $ 118,000 Tax expense 207,000 325,000 Net income $ 569,880 The…
Estimating Share Value Using the ROPI Model Following are forecasts of sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of December 31, 2018, for Humana. Terminal Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal place Reported Horizon period $ millions 2018 2019 2020 2021 2022 Period Sales $56,880 $57,734 $58,600 $59,480 $60,372 2,492 2,542 2,580 2.619 2,658 4,000 4,065 4,126 4,189 4,252 NOPAT NOA $60,976 2,684 4,295 Answer the following requirements with the following assumptions: Assumptions Terminal period growth rate Discount rate (WACC) 19 7.8% Common shares outstanding 135.6 million Net nonoperating obligations (NNO) S(6,161) million NNO is negative because Humana's nonoperating assets exceed its nonoperating liabilities. (a) Estimate the value of a share of common stock using the residual operating income (ROPI) model as of December 31,…
Do not give answer in image formate
please answer do not image format