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Exercise 17-5 (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. Sales Cost of goods sold Operating expenses Change in Net Net Income Income Common-Size Percents Current Year 100.0% 63.3 14.3 Sales Cost of Goods Sold Operating Expenses Net Income 1 Year 2 Years Current Year 104.7% 117.7 106.3 Ago 100.0% 61.1 13.8 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. Current Year Ago 100.0% 56.3 14.1 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. Trend Percents 1 Year Ago 2 Years Ago $ $ 1 Year 2 Years Ago Ago 103.5% 100.0% 112.3 100.0 101.3 100.0 100,000 56,300 14,100 29,600

Exercise 17-5 (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. Sales Cost of goods sold Operating expenses Change in Net Net Income Income Common-Size Percents Current Year 100.0% 63.3 14.3 Sales Cost of Goods Sold Operating Expenses Net Income 1 Year 2 Years Current Year 104.7% 117.7 106.3 Ago 100.0% 61.1 13.8 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. Current Year Ago 100.0% 56.3 14.1 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. Trend Percents 1 Year Ago 2 Years Ago $ $ 1 Year 2 Years Ago Ago 103.5% 100.0% 112.3 100.0 101.3 100.0 100,000 56,300 14,100 29,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Exercise 17-5 (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. Sales Cost of goods sold Operating expenses Change in Net Income Common-Size Percents Trend Percents Current 1 Year 2 Years Current 1 Year 2 Years Year Year 104.7% 117.7 106.3 Net Income 100.0% 63.3 14.3 Complete this question by entering your answers in the tabs below. Sales Cost of Goods Sold Operating Expenses Net Income Ago 100.0% 61.1 13.8 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Ago 100.0% 56.3 14.1 Current Year 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. 1 Year Ago < Change in Net Income 2 Years Ago $ Ago 103.5% 112.3 101.3 $ 100,000 56,300 14,100 29,600 Ago 100.0% 100.0 100.0 Net Income
Transcribed Image Text:Exercise 17-5 (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. Sales Cost of goods sold Operating expenses Change in Net Income Common-Size Percents Trend Percents Current 1 Year 2 Years Current 1 Year 2 Years Year Year 104.7% 117.7 106.3 Net Income 100.0% 63.3 14.3 Complete this question by entering your answers in the tabs below. Sales Cost of Goods Sold Operating Expenses Net Income Ago 100.0% 61.1 13.8 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Ago 100.0% 56.3 14.1 Current Year 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. 1 Year Ago < Change in Net Income 2 Years Ago $ Ago 103.5% 112.3 101.3 $ 100,000 56,300 14,100 29,600 Ago 100.0% 100.0 100.0 Net Income
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