Income statements for Puppy Daycare Company for Year 3 and Year 4 follow:ItemsSalesCost of goods soldSelling expensesAdministrative expensesTotal expensesIncome before taxesIncome tax expenseNet incomeRequired A Required BYear 4$159,000SalesCost of goods soldSelling expenses73,50023,65032,500Administrative expensesTotal expensesIncome before taxesIncome taxesNet income129,65029,350Required:a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4.b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.5,870$ 23,480Complete this question by entering your answers in the tabs below.$Year 3$140,600Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year4.Note: Round percentages to 1 decimal place. Negative amounts should be entered with a minus sign.43,40026,50030,600100,50040,10010,025$30,075Puppy Daycare CompanyHorizontal Analysis of Income StatementsYear 4Year 300 $< Required A00% Change over Year 3Required B >

Comparative financial statements are used to compare two or more years to understand the financial…

= for Puppy Daycare Company for Year 3 and Year 4 follow: Year 4 $159,000 73,500 23,650 32,500 129,650 29,350 5,870 $ 23,480 nd xpenses xes se Year 3 $140,600 43,400 26,500 30,600 100,500 40,100 10,025 $ 30,075 ntal analysis, showing the percentage change in each income statement al analysis showing each income statement component as a percentage o

= for Puppy Daycare Company for Year 3 and Year 4 follow: Year 4 $159,000 73,500 23,650 32,500 129,650 29,350 5,870 $ 23,480 nd xpenses xes se Year 3 $140,600 43,400 26,500 30,600 100,500 40,100 10,025 $ 30,075 ntal analysis, showing the percentage change in each income statement al analysis showing each income statement component as a percentage o

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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GIVE THE COMPARATIVE INCOME STATEMENT VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW JOLLIBEE INCOME STATEMENT ITEM 2016 2017 2018 2019 2020 Sales/Revenue 113.81B 133.61B 161.17B 179.63B 129.31B Sales Growth - 17.40% 20.62% 11.45% -28.01% Cost of Goods Sold (COGS) incl. D&A - - 132.96B 150.88B 115.39B COGS Growth - - - 13.47% -23.52% COGS excluding D&A 89.27B 105.39B 121.08B 137.38B 100.82B Depreciation & Amortization Expense 4B 4.75B 11.89B 13.5B 14.57B Depreciation 3.93B 4.66B 11.73B 13.34B 14.32B Amortization of Intangibles 68.99M 78.95M 151.82M 145.42M 245.23M Gross Income 20.54B 23.48B 28.21B 28.75B 13.92B Gross Income Growth - 14.30% 20.12% 1.93% -51.57% Gross Profit Margin - - - - 10.77% SG&A Expense - - 17.64B 20.21B 20.42B SGA Growth - - - 14.57% 1.02%…
Using the following chart for age and income, determine the split points for income. Age Income 42 43,000 46 63,000 37 33,000 24 39,000 25 33,000 39 52,000 40 63,000 36 54,000 Multiple Choice (33000, 41000, 47500, 53000, 63000} (36000, 41000, 47500, 53000, 58500) (33000, 36000, 41000, 47500, 53000, 58500, 63000) Help
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…
Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Yes
This topic is about CVP Analysis. Check the photo for the problem
Subject: accounting
Prepare a horizontal analysis of Nebraska Technologies's income statements. For decreases or negative numbers use a minus sign. Round percentages to one decimal place. Year 1 Increase (Decrease) Percent Favorable/Unfavorable 1 2 3 4 5 6 7 Sales Wage expense Rent expense Utilities expense Total operating expenses Net income Year 2 $158,400.00 $80,000.00 28,000.00 30,000.00 $138,000.00 $162,500.00 $92,500.00 30,000.00 25,000.00 $147,500.00 $20,400.00 $15,000.00
Prepare common size income statements Which company earns more net income? Which companies net income has a higher percentage of its net sales revenue?
Required: 1. Complete the following columns for each item in the comparative financial statements (Negative answers shoul be indicated by a minus sign. Round percentage answers to 2 decimal places, i.e., 0.1243 should be entered as 12.43.): Increase (Decrease) Year 2 over Year 1 Amount Percentage Statement of earnings: Sales revenue Cost of sales Gross margin Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings $ 45,770 38,650 7,120 4,020 3,100 1,050 $ 2,050 Statement of financial position: Cash (4,720) Accounts receivable (net) (4,220) Inventory 6,200 Property, plant, and equipment (net) 6,380 $ 3,640 Current liabilities (3,840) Long-term debt 3,530 Common shares 0 Retained earnings 3,950 $ 3,640
Cochran corporation, Inc. has the following income statement: Cochran corporation, Inc. Income statement For the year ended December 31, 2021 net sales $240 Cost of goods sold $150 gross profit $90 Operating expenses $65 Net income $25 Using vertical analysis, what percentage is assigned to operating expenses? a. 27,1% b. 43.3% c. 72.2% d. 260.0%
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Express the following comparative income statements in common-size percents. C esponsible 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. Note: 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 % 100.0 Current Year S $ $ 740,000 568,100 171,900 128,000 43,900 Prior Year $ $ $ 690,000 291,000 399,000 226,400 172,600 Prior Year % Reason for Decline in Not Ing