verizonConsolidated Income Statements (In millions of dollars)Year endedDec 31, 2020$ 128,292Year endedDec 31, 2019$ 131,868SalesCost of goods sold51,20154,726Gross profit77,09177,142Selling, general and administrative expenses31,57329,896Depreciation and amortization expense16,72016,682Income from operations28,79830,564Other expense, net5843,101Interest expense4,2474,730Income before income taxes23,96722,733|Income tax expense/(benefit)5,6192,945Net income$ 18,348$19,788Horizontal analysis shows that Verizon's net income growth from 2019 to 2020is -7.85%.Horizontal analysis shows that Verizon's net income growth from 2019 to 2020is -1,440%.Horizontal analysis shows that Verizon's net income growth from 2019 to 2020is -7.28%.Horizontal analysis shows that Verizon's net income growth from 2019 to 2020is -1.09%. Which of the following statements is TRUE about Verizon's financial statements?verizonConsolidated Balance Sheets (In millions of dollars)As ofAs ofDec 31, 2020$ 22,171Dec 31, 2019$ 2,594ASSETSCash and cash equivalentsAccounts receivable23,91725,429Inventories1,7961,422Prepaid expenses and other current assets6,7108,028Total current assets54,59437,473Property and equipment, netIntangible assetsOther long-term assets94,83391,915152,814151,64010,699$ 291,72714,240Total assets$ 316,481LIABILITIES & EQUITYDebt maturing within one year$ 5,889$ 10,777Accounts payable and accrued liabilities20,65821,806Other current liabilities13,11312,285Total current liabilities39,66044,868Long-term debt123,173100,712Other long-term liabilities84,37683,312Total liabilities247,209228,892Common stock and additional paid in capital13,83313,858Retained earnings60,46453,147Accumulated other comprehensive income(5,025)(4,170)Total shareholders' equity69,27262,835Total liabilities and shareholders' equity$ 316,481$ 291,727

Horizontal analysis means where the analysis is made with regard with two different period where as…

Horizontal analysis shows that Verizon's net income growth from 2019 to 2020 is -7.85%. Horizontal analysis shows that Verizon's net income growth from 2019 to 2020 is -1,440%. Horizontal analysis shows that Verizon's net income growth from 2019 to 2020 is -7.28%. Horizontal analysis shows that Verizon's net income growth from 2019 to 2020 is -1.09%.

Horizontal analysis shows that Verizon's net income growth from 2019 to 2020 is -7.85%. Horizontal analysis shows that Verizon's net income growth from 2019 to 2020 is -1,440%. Horizontal analysis shows that Verizon's net income growth from 2019 to 2020 is -7.28%. Horizontal analysis shows that Verizon's net income growth from 2019 to 2020 is -1.09%.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Given the information below for HooYah! Corporation, compute the expected share price at the end of 2020 using price ratio analysis. Assume that the historical (arithmetic) average growth rates will remain the same for 2020. Year 2014 2015 2016 2017 2018 2019 Price $ 15.00 $ 51.50 $ 123.00 $ 200.00 $ 90.00 $ 20.50 EPS −7.00 −6.29 −2.10 −.45 .03 .06 CFPS −16.00 −13.50 −3.10 −.15 .38 .08 SPS 12.00 20.50 21.60 25.10 28.60 28.95 using PE ratio Using P / CF ratio Using the P /S ratio
In 2020 Coca Cola reported net operating revenues of P18.2 billion and cost of goods sold for P0.8 billion. Their gross profit percentage for 2020 was
Based on the following data below: In 2019: Total Sales= 1.5 billion with the Motor Category representing 18% of total sales Projected 2029: Total Sales= 3.75 billion with the Motor Catgory representing 24% of total sales What is the ratio of the revenue of sale in the Motors Category in 2019 to the projected revenue of sales in Motors in 2029?
A company’s sales in 2010 were P300,000 and in 2011 were P351,000. Using 2010 as the base year, the sales trend percent for 2011 is: A. 17%B. 85%C. 100%D. 117%E. 48%
Suppose a firm has had the following historic sales figures. Year: 2016 2017 2018 2019 2020 Sales $1,500,000 $1,670,000 $1,580,000 $2,160,000 $1,890,000 What would be the forecast for next year's sales using FORECAST.ETS to estimate a trend? Note: Round your answer to the nearest whole dollar. Next year's sales
Returns for the Dayton Company over the last 3 years are shown below. What's the standard deviation of the firm's retums? Year Retum 2014 21.00% 2013 -12.50% 2012 25.00% O 16.81% 20.59% 21.11% 21.64% 22.18%
If a company had sales of $2,587,643 in 2008 and sales of $3,213,456 in2013, by what percentage did sales change during this time period? If thecompany had a goal of increasing sales by 25 percent over a 5-year period,did it meet its objectives?
Better Burgers reported the following numbers (in millions) for the years ending February 2021 and 2022. Net income Dividends Total assets Total equity Internal growth rate Sustainable growth rate 2021 Internal growth rate Sustainable growth rate $ 13,620 6,251 What are the internal and sustainable growth rates? Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. 2022 $ 1,457 209 Internal growth rate Sustainable growth rate % % What are the internal and sustainable growth rates using ROE × b and ROA × b and the end of period equity (assets)? Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. 14,868 7,499 % % What are the growth rates if you use the beginning of period equity in this equation? Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. % %
Perform a vertical analysis of the P&L (FS Company). "Formula: Vertical Analysis % - Each income statement items / Revenues (or Net sales) Fill in each Blank. Round your answers to the nearest tenth percent, i.e. 4.5%. PLEASE SUBMIT YOUR ANSWERS IN % and include the % symbol. Do not leave any blank. If the answer is 0, be sure to put 0. Cost of goods sold Gross profit Net sales $858,000 Select] Other expenses Interest revenue Income from operations Interest expense 2018 Income before income taxes Income tax expense Net income 513,000 345,000 244,000 101,000 4,000 24,000 81,000 33,000 FS Company Comparative P&L statement Years Ended December 31, 2018 and 2017 48,000 % of sales Select J [Select] | Select | [Select] [Select] [Select] [ Select] Select] Select > >
During 2016, Fly-Us-Again, Inc had total interest expense of P10,000, sales of P1,000,000, income taxes ofP40,000, and a net profit margin of 6%. What is the company's times-interest-earned ratio for 2016? a. 6 times b. 10 times c. 11 times d. 25 imes
Interbrand's 2021 Best Brand List reports that Apple is the #1 brand worth $408,251 mln. The value increased 26% since 2020. Based on this finding, it is possible that Apple's brand equity had _____ since 2020 A. Increased B. Decreased C. Not changed
Crane Corp had sales of $322,000 in 2017. If management expects its sales to be $476,450 in 3 years, what is the annual rate at which the company's sales are expected to grow? (Round intermediate calculations to 4 decimal places, e.g. 2.5125 and final answer to 2 decimal places, e.g. 2,515.25.) Annual growth rate %