ExampleCash and cashequivalentsBlank 1Step 1: Blank 1; - Blank 2; = Blank 3;Step 2: Blank 4; Blank 5; = Blank 6%Blank 2Blank 3Blank 4Blank 5Add your answerAdd your answerAdd your answerCalculate the 2022 Horizontal Analysis variance of "Cost of Goods Sold" in %. Fill in the equations using the financial statementsprovided (no symbols or commas) and the % should be in a XX.XX format:Add your answer2022Add your answer$330MADMA2021$3602022 - 2021 #-$30Answer / 2021-0.083333333Update to %-8.30% information in this worksheet to complete Wk 4 Practice.orthside Medical Balance Sheet December 31, Table 1: A2-C19Current AssetsInvestmentsCurrent liabilitiesSales RevenueCosts and expensesCash and cash equivalentsAccounts receivable (net)InventoryPrepaid expensesTotal current assetsIncome before income taxesProperty, plant, and equipmentIntangibles and other assetsTotal assetsLong-term liabilitiesStockholder's equity - commonTotal liabilities and stockholder's equityIncome Statement For the Years Ended December 31, Table 2: A21-C332022Cost of goods soldSelling and Administrative expensesInterest expenseTotal costs and expenses2022 2021Income tax expenseNet Income3304704601201,380104205302,3409007904103801,0301,0402,340 2.2103,8009552,400253,3803604003901601,31042012629410380510221020213,4608902,330203,24022066154

Horizontal analysis is the one which is done by the entity to compare the data for two years. It is…

information in this worksheet to complete Wk 4 Practice. orthside Medical Balance Sheet December 31, Table 1: A2-C19 Current Assets Investments Current liabilities Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Income before income taxes Property, plant, and equipment Intangibles and other assets Total assets Total liabilities and stockholder's equity Income Statement For the Years Ended December 31, Table Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 Income tax expense Net Income 330 470 460 120 1,380 10 420 530 2.340 900 790 Long-term liabilities 410 380 Stockholder's equity - common 1,030 1,040 2.340 2.210 2: A21-C33 2022 3,800 2021 955 2,400 25 3.380 420 126 294 360 400 390 160 1,310 10 380 510 2210 2021 3,460 890 2,330 20 3,240 220 66 154

information in this worksheet to complete Wk 4 Practice. orthside Medical Balance Sheet December 31, Table 1: A2-C19 Current Assets Investments Current liabilities Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Income before income taxes Property, plant, and equipment Intangibles and other assets Total assets Total liabilities and stockholder's equity Income Statement For the Years Ended December 31, Table Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 Income tax expense Net Income 330 470 460 120 1,380 10 420 530 2.340 900 790 Long-term liabilities 410 380 Stockholder's equity - common 1,030 1,040 2.340 2.210 2: A21-C33 2022 3,800 2021 955 2,400 25 3.380 420 126 294 360 400 390 160 1,310 10 380 510 2210 2021 3,460 890 2,330 20 3,240 220 66 154

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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