MallingsReviewViewHelpEnrichment Activity 7-1. Vertical AnalysisComplete the vertical analysis of Financial Performance of Alegres Santos'Groceries: (Use percentages in two decimal places.)Alegres Santos' GroceriesStatement of Financial Perfor manceFor the years ended December 3120212010AmountPercentAmountPercentNet SalesLess: Cost of Goods SoldGross ProfitLess: Operating ExpensesOperating IncomeLess: Finance CostsNet Income before TaxLess: Income TaxNet Income after Tax802,750460,200 1)342,550 2)233,670 3),108,880 4)45,000 5)63,880 6)19,164 7)44,716 8)671,179381,900 9)289,279 10)185,660 11)103,619 12)38,000 13)65,619 14)19,686 15).45,933 16)100.00%100.00%PPWrite your interpretation and analysis in no less than four sentences.

The vertical analysis shows % change in the base figures . It shows the relationship of all item in…

Enrichment Activity 7-1. Vertical Analysis Complete the vertical analysis of Financial Performance of Alegres Santos' Groceries: (Use percentages in two decimal places.) Alegres Santos' Groceries Statement of Financial Performance For the years ended December 31 2021 2010 Amount Percent Amount Percent Net Sales Less: Cost of Goods Sold Gross Profit 802,750 460,200 1). P 671,179 381,900 9) 289,279 10) 185,660 11) 103,619 12) 38,000 13) 65,619 14) 19,686 15) 45,933 16) 100.00% 100.00% Less: Operating Expenses Operating Income Less: Finance Costs Net Income before Tax Less: Income Tax Net Income after Tax 342,550 2) 233,670 3) 108,880 4) 45,000 5) 63,880 6) 19,164 7) 44,716 8) P P P Write your interpretation and analysis in no less than four sentences.

Enrichment Activity 7-1. Vertical Analysis Complete the vertical analysis of Financial Performance of Alegres Santos' Groceries: (Use percentages in two decimal places.) Alegres Santos' Groceries Statement of Financial Performance For the years ended December 31 2021 2010 Amount Percent Amount Percent Net Sales Less: Cost of Goods Sold Gross Profit 802,750 460,200 1). P 671,179 381,900 9) 289,279 10) 185,660 11) 103,619 12) 38,000 13) 65,619 14) 19,686 15) 45,933 16) 100.00% 100.00% Less: Operating Expenses Operating Income Less: Finance Costs Net Income before Tax Less: Income Tax Net Income after Tax 342,550 2) 233,670 3) 108,880 4) 45,000 5) 63,880 6) 19,164 7) 44,716 8) P P P Write your interpretation and analysis in no less than four sentences.

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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Alfiya trading Company announces annual Sales of OMR 30000, Carriage inwards of OMR 2000, Sales Discount of OMR 2000 and sales return of OMR 3000. Calculate net sales? a. OMR 23000 b. OMR 21000 c. OMR 30000 d. OMR 25000
Debit $ 3,580 31,400 1,715 Credit Cash Merchandise inventory Store supplies Office supplies Prepaid insurance Store equipment Accumulated depreciation, store equipment Office equipment Accumulated depreciation, office equipment Accounts payable Zen Woodstock, capital Zen Woodstock, withdrawals Rental revenue 645 3,960 57,615 $ 6,750 13,100 6,550 4, 000 52, 000 31, 500 14,600 501,520 Sales Sales returns and allowances 2,915 5,190 331, 315 Sales discounts Purchases 2,140 4,725 Purchase returns and allowances Purchase discounts Transportation-in Sales salaries expense Rent expense, selling space Advertising expense Store supplies expense Depreciation expense, store equipment Office salaries expense Rent expense, office space Office supplies expense Insurance expense Depreciation expense, office equipment 3,690 34,710 24,080 6,400 27,630 13,000 Totals $592, 285 $592, 285 a. The balance on January 1, 2020, in the Store Supplies account was $480. During the year, $1,235 of store supplies…
#becausesneaker.... HW CH 17 Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of merchandise sold Selling expenses Administrative expenses Income tax expense Custom Order Sales Cost of merchandise sold Selling expenses a. Prepare an income statement in comparative form, statin each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Administrative expenses Income tax expense $483,000 280,140 82,110 86,940 14,490 Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount $483,000 280,140 82,110 86,940 14,490 percentage points, and administrative expenses net income as a percent of sales Current year Percent % % % % % % $420,000 218,400 79,800 71,400 21,000 % % % Previous year Amount $420,000 218,400 79,800 71,400 21,000 Previous year Percent b.…
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Activities/Assessments: Exercise 6-1: Supply the answers to the items marked "?" and support your answer with computation: CASE C CASE B P532, 000 CASE A Sales 4, 000 2,000 496, 000 Sales Returns ? 1, 500 525, 000 5, 000 2, 200 326, 000 Sales Discounts Net Sales Cost of Sales: Merchandise Inventory, Beg. 75, 000 70, 000 320, 000 ? 95, 600 196, 000 2, 100 1, 500 2, 800 Purchases Freight- in Purchase Returns & Allowances Purchase Discount Merchandise Inventory, End Cost of Sales Gross Profit 2, 000 6, 000 7, 500 80, 000 4, 500 2, 100 46, 000 ? 458, 500 ? 226, 000 ? 186, 000 126, 000 Administrative & Selling Expenses Net Income (loss) Gross Profit Rate 21, 500 60, 000 16, 000 ? ? ?
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