←!1QQuestion 1- Ch 13 Ex 13-3- Con X +→ CACh 13 Ex 13-3112pointsSkippedezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q...eBook6→HintAskDPrintDReferencesMcGrawHillType here to search@2W2018:2017:Is the trend percent for Net Sales favorable or unfavorable?2021:2020:2021:2020:2019:2018:2017:Is the trend percent for Cost of Goods Sold favorable or unfavorable?F2#Numerator:3ENumerator:2019:/2018:I2017:1Is the trend percent for Accounts Receivable favorable or unfavorable?F3$481xTrend Percent for Cost of Goods Sold:1Denominator:1/RTrend Percent for Accounts Receivable:Denominator:H111F4%511/16TPrevn OF5^6SavedICEY1 of 1F6wwwPrtScn&v lo=7F7UTrend percentTrend percentNextHome* 008FB1%%%%%%%%%%%%End(953°F SunnyF9OHelpPgUp)0F10Save & E:PChecDPgDr stion 1 Ch 13 Ex 13-3- Con X +1ссezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q...Ch 13 Ex 13-3 i112points.SkippedeBookBHintAskbPrintReferences.F12Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1SalesCost of goods soldAccounts receivableMcGrawHillType here to search2021:2020:2019:2018:2017:F2#Numerator:2021:12020:12019:112018:2017:1Is the trend percent for Net Sales favorable or unfavorable?3Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether thesituation as revealed by the trend percents appears to be favorable or unfavorable.Numerator:Ⓒwww▶/11F32021$599,194302, 14728,941Et$41xTrend Percent for Net Sales:11HF42020$ 389,087196,34422,684Trend Percent for Cost of Goods Sold:1Denominator:1111Do%5201920182017$ 320,236 $216,376 $159,108163,46821,84010F5SavedDenominator:PrevO<61 of 1109,93812,781F6wwwwwwwww&=PrtScn7=79,55010,930Trend percentF7Trend percentNext >Home8%1%%%%%%%%%FBEnd9Help53°F SunnyF9PgUp0Save & ExitF10CheckPoD

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Trend Analysis - Under Trend Analysis company takes 100% to base year and compare the rest of the…

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Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable. 2021 $ 599,194 302,147 28,941 2020 $389,087 196,344 22,684 2019 $ 320,236 163,468 21,840 2018 $216,376 109,938 12,701 2017 $ 159,100 79,550 10,930 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.

Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable. 2021 $ 599,194 302,147 28,941 2020 $389,087 196,344 22,684 2019 $ 320,236 163,468 21,840 2018 $216,376 109,938 12,701 2017 $ 159,100 79,550 10,930 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.

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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Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 Skip to question [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 459,716 $ 352,180 $ 244,400 Cost of goods sold 276,749 223,282 156,416 Gross profit 182,967 128,898 87,984 Selling expenses 65,280 48,601 32,261 Administrative expenses 41,374 30,992 20,285 Total expenses 106,654 79,593 52,546 Income before taxes 76,313 49,305 35,438 Income tax expense 14,194 10,108 7,194 Net income $ 62,119 $ 39,197 $ 28,244 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 58,718 $ 39,300…
Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 $ 396,891 238,928 157,963 56,359 $ 304,051 191,248 112,803 41,959 26,756 $ 211,000 135,040 75,960 27,852 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses 35,720 92,079 65,884 12,254 17,513 45,365 30,595 Total expenses 68,715 44,088 9,038 Income before taxes Income taxes 6,211 Net income $ 53,630 $ 35,050 $ 24,384 KORBIΝ COMPΑNY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets $ 49,213 $ 38,503 1,200 95,481 Current assets $ 51,470 Long-term investments 4,100 90,003 $ 139,216 56,430 $ 112,000 Plant assets, net Total assets $ 135,184 Liabilities and Equity $ 20,326 67,000 8,375 43,515 20,142 67,000 8,375…
QS 17-4 (Algo) Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) Short-term investments Accounts receivable Notes payable Percent Change: = Short-term investments Accounts receivable Notes payable $ Current Year Prior Year $ 377,232 99,828 0 $ 236,026 103,326 90,624 Horizontal Analysis - Calculation of Percent Change Numerator: Current Year 377,232 $ 99,828 0 Prior Year 236,026 103,326 90,624 Denominator: Dollar Change Percent Change % % %
Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable Numerator: 2021 $501,535 253,218- 24,375 Numerator: Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. 2020 2019 $ 323,571 $ 251,906 163,436 18,897 129,253 17,198 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? Numerator: Trend Percent for Net Sales: 1 1 Denominator: Trend Percent for Cost of Goods Sold: Denominator: 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: Denominator: -2018 $ 176,088 99,294 10,266 2021: 2020: 2019: 2018: 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? 2017 $ 127,600 63,800 8,702 Trend percent Trend percent Trend percent ****at % % % %…
Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 $ 396,891 238,928 157,963 56,359 $ 304,051 191,248 112,803 41,959 26,756 $ 211,000 135,040 75,960 27,852 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses 35,720 92,079 65,884 12,254 17,513 45,365 30,595 Total expenses 68,715 44,088 9,038 Income before taxes Income taxes 6,211 Net income $ 53,630 $ 35,050 $ 24,384 KORBIΝ COMPΑNY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets $ 49,213 $ 38,503 1,200 95,481 Current assets $ 51,470 Long-term investments 4,100 90,003 $ 139,216 56,430 $ 112,000 Plant assets, net Total assets $ 135,184 Liabilities and Equity $ 20,326 67,000 8,375 43,515 20,142 67,000 8,375…
Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable 2021: 2020: Numerator: 2019: 2018: 2017: 2021 $ 599,194 302,147 28,941 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Numerator: 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Net Sales: 1 1 1 2028 $ 389,087 196,344 22,684 1 1 2019 $ 320,236 163,468 21,840 1 Trend Percent for Cost of Goods Sold; 1 Denominator: Denominator: 2018 $ 216,376 109,938 12,701 2017 $159,100 79,558 10,930 Trend percent Trend percent % % % % % % % % %
2021 2020 2019 2018 2017 Sales $703,787 $ 463,018 $370,414 $256,342 $191,300 Cost of goods sold 361,331 237,839 192,311 132,684 97,563 Accounts receivable 33,993 27,133 25,299 14,996 13,066 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.
Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 $ 474, 200 285,468 2819 $363, 276 228,864 188, 732 134,412 67,336 50, 132 42,678 31, 968 119,014 82, 198 78, 718 52,312 14,642 19,724 $ 64,976 $ 41,588 S Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31, 2020, 2019, and 2018 2020 Common-Size Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 100.00 % 2019 100.00 % Assets Current assets Long-term investments Plant assets,…
Sales Cost of goods sold Accounts receivable Numerator: 2021 $ 446,762 225,881 21,623 Numerator: Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Numerator: 1 1 1 1 1 1 1 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? 2020 $ 290,105 146,803 16,913 Trend Percent for Net Sales: 2019 $ 232,084 119,092 15,828 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Cost of Goods Sold: 1 Denominator: 7 1 1 1 1 1 I 1 Denominator: Trend Percent for Accounts Receivable: Denominator: 1 1 1 1 2021: 2020: 2019: 2018: 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? 2018 $ 167,570 84,885 9,820 = = = = = = = = = = 2017 $ 128,900 64,450 8,804 = Trend percent Trend percent Trend percent % % % % % % % % % % % % %…
TABLE 2.5 2009-2013 Financial Statement Data and Stock Price Data for Mydeco Corp. Mydeco Corp. 2009-2013 (All data as of fiscal year end; in S million) Income Statement Revenue 2013 604.1 2009 2010 2011 2012 404.3 363.8 424.6 510.7 Cost of Goods Sold Gross Profit Sales and Marketing Administration (1883) (173.8) (206.2) (293.4) (246.8) 263.9 (102.1) (66.4) 216.0 190.0 2184 310.7 (66.7) (60.6) (27.3) (66.4) (59.1) (82.8) (59.4) (34.3) (120.8) (78.5) (38.6) Depreciation & Amortization EBIT Interest Income (Expense) (27.0) 37.5 38.4) 57.0 61.4 41.9 72.8 (33.7) 27.7 (32.9) 4.6 32.2) 9.7 (37.4) 19.6 (39.4) 33.4 (11.7) Pretax Income Income Tax (9.7) 18.0 (1.6) 3.0 (3.4) 6.3 (6.9) 12.7 Net Income 21.7 Shares eatstanding (milliona) Earnings per share 55.0 $0.33 55.0 $0.05 55.0 $0.11 55.0 $0.23 55.0 $0.39 Balance Sheet 2009 2010 2011 2012 2013 Assets Cash 48.8 68.9 69.8 86.3 69.8 28.4 77.5 76.9 85.0 Accounts Receivable 88.6 86.1 Inventory Total Current Assets Net Property, Plant & Equip.…
PINA COLADA CORPORATION Comparative Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Operating expenses Net income December 31, 2022 $766,000 493,000 273,000 144,000 $129,000 December 31, 2021 $470,000 303,000 167,000 122,000 $45.000
Exercise 17-4 (Algo) Computing and interpreting common-size percents LO P2 Express the following comparative income statements in common-size percents. Using the common-size percents, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) Sales Cost of goods sold Gross profit Operating expenses Net income GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year $ Current Year % 780,000 $ 560,000 220,000 130,400 89,600 $ Income Statement Prior Year $ $ $ 660,000 295,400 364,600 251,600 113,000 Prior Year % Reason for Decline in Net Income >