For the Years Ended December 31 20Y8 $1,340,000 (833,000) $507,000 Fees earned Expenses X Net income This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet 20Y9 $1,619,000 (848,700) $770,300 a. Prepare a vertical analysis of Cornea Company's income statements. Round your answers to one decimal place. Cornea Company Income Statements For the Years Ended December 31 20Y9 Amount 20Y9 Percent 20Y8 Amount 20Y8 Percent 100 % Fees earned Expenses Net income $1,619,000 (848,700) $770,300 100 % % % b. The vertical analysis indicates a favorable $1,340,000 (833,000) $507,000 trend. % %

For the Years Ended December 31 20Y8 $1,340,000 (833,000) $507,000 Fees earned Expenses X Net income This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet 20Y9 $1,619,000 (848,700) $770,300 a. Prepare a vertical analysis of Cornea Company's income statements. Round your answers to one decimal place. Cornea Company Income Statements For the Years Ended December 31 20Y9 Amount 20Y9 Percent 20Y8 Amount 20Y8 Percent 100 % Fees earned Expenses Net income $1,619,000 (848,700) $770,300 100 % % % b. The vertical analysis indicates a favorable $1,340,000 (833,000) $507,000 trend. % %

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...

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Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas where indicated on the worksheet. Check to be sure that your balance sheet balances. Enter your name in cell A1. Save the completed file as MASTER2. Print the worksheet when done. Also print your formulas using fit-to-1 page scaling. Check figures: Borrowing (cell B78), $7,280; forecasted net income (cell D95), $40,200; total assets (cell D105), $507,600.
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