Compute for Vertical Analysis for the Net Income of Year 3:The Derkins Corporation had the following information available:Year 3Year 2Year 1Income StatementRevenueCost of goods soldSelling & admin. expensesInterest expenseNet Income30,84823,1226,0825041,14027,43320,9385,05345898425,51219,8754,672350615Balance SheetAssetsCashAccounts receivableInventoryProperty and equip. (net)Total Assets6815063,2003,2817,6683545872,6272,8106,3786894122,2452,5145,760LiabilitiesAccounts payableUnredeemed gift cardsLong-term liabilities373358410693,2343852,8242,643Stockholders' EquityCommon stockRetained earningsTotal Liabilities and Equity9859859851,4671,8018996,3782,607Note: Use two Decimal Points and use Percent (%) if NecessaryEnter your answer into the box.

Vertical analysis is referred to as an accounting tool, which helps in enabling the proportional…

Answered: Compute for Vertical Analysis for the…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...

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Similar questions

Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for Cuneo Company above. Required: 1. Prepare a common-size income statement for Year 1 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 2. Prepare a common-size income statement for Year 2 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 3. Prepare a common-size income statement for Year 3 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.)
MULTIPLE-STEP INCOME STATEMENT Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Sauter Office Supplies for the year ended December 31,20--.
Return on assets The financial statements of The Hershey Company (HSY) are shown in Exhibits 6 through 9 of this chapter. Based upon these statements, answer the following questions. The percent that a company adds to its cost of sales to determine the selling price is called a markup. That is Hershey’s markup percent? Round to one decimal place.
Net income *?
Add/adjust/remove as needed to convert this to a multi-step Income Statement. Include necessary underlines.
Income statements for Walton Company for Year 3 and Year 4 follow: WALTON COMPANY Income Statements. Sales Cost of goods sold. Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Required A Required B Year 4 $200, 300 143,300 20,900 12,900 3,200 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income $180,300 $160,300 20,000 20,000 3,300 5,600 $ 14,400 $ 16,700 Complete this question by entering your answers in the tabs below. Year 3 $180,300 X Answer is complete but not entirely correct. Perform a vertical analysis, showing each income statement component as a percentage of…
Answer ALL the questions in this section. QUESTION 1 Read the information below and answer the following questions INFORMATION The following statement of comprehensive income for the financial year ended 31 December 2021 and the statement of financial position as at 31 December 2021 have been provided by Midas Enterprises: Statement of comprehensive income for the year ended 31 December 2021 1 Sales Cost of sales Gross profit Variable selling and administrative expenses Fixed selling and administrative expenses Net profit R 10 000 000 (5 750 000) 4 250 000 (1 500 000) (500 000) 2 250 000 Statement of financial position as at 31 December 2021 ASSETS Non-current assets Property, plant and equipment Current assets Inventories Accounts receivable Cash EQUITY AND LIABILITIES Equity Current liabilities Accounts payable R 800 000 800 000 3 400 000 1 600 000 600 000 1 200 000 4 200 000 3 760 000 440 000 440 000 4 200 000 Additional information: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. The sales budget…
Perform a horizontal and vertical analysis. Use 1 decimal place for percentage result on vertical analysis.
Please help me with show all calculation thanku
Income statements for Walton Company for Year 3 and Year 4 follow: WALTON COMPANY Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Required A Required B Year 4 $200, 300 143,300 20,900 12,900 3,200 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Complete this question by entering your answers in the tabs below. Income taxes expense Net income (loss) $180,300 $160,300 20,000 20,000 3,300 5,600 $ 14,400 $ 16,700 WALTON COMPANY Horizontal Analysis of Income Statements Perform a horizontal analysis, showing the percentage change in each income statement…
Match the following statements to the appropriate terms!
Briefly described the comparative income statement for KPT Enterprises

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