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 ExampleCash and cashequivalentsBlank 1Step 1: Blank 1; - Blank 2; = Blank 3;Step 2: Blank 4; ÷ Blank 5; = Blank 6 %Blank 2Blank 3Blank 4Blank 5Blank 6Add your answerAdd your answerAdd your answerAdd your answerCalculate the 2022 Horizontal Analysis variance of "Sales Revenue" in %. Fill in the equations using the financial statements provided(no symbols or commas) and the % should be in a XX.XX format:Add your answer2022Add your answer$330Last saved 3:49:34 PM2021$3602022 2021 #-$3013 OFAnswer / 2021-0.083333333JESTIONS REMAININGUpdate to %-8.30%

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 Income before income taxes Cash and cash equivalents 330 Accounts receivable (net) 470 Inventory 460 Prepaid expenses 120 Total current assets 1,380 Property, plant, and equipment Intangibles and other assets Total assets 2022 2021 900 Long-term liabilities 410 Stockholder's equity - common 1.030 Total liabilities and stockholder's equity 2,340 Income Statement For the Years Ended December 31, Table 2: A21-C33 2022 Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 10 420 530 2.340 Income tax expense Net Income 3,800 955 2,400 25 3.380 420 126 294 360 400 390 160 1,310 10 380 510 2210 790 380 1.040 2.210 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 Income before income taxes Cash and cash equivalents 330 Accounts receivable (net) 470 Inventory 460 Prepaid expenses 120 Total current assets 1,380 Property, plant, and equipment Intangibles and other assets Total assets 2022 2021 900 Long-term liabilities 410 Stockholder's equity - common 1.030 Total liabilities and stockholder's equity 2,340 Income Statement For the Years Ended December 31, Table 2: A21-C33 2022 Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 10 420 530 2.340 Income tax expense Net Income 3,800 955 2,400 25 3.380 420 126 294 360 400 390 160 1,310 10 380 510 2210 790 380 1.040 2.210 2021 3,460 890 2,330 20 3,240 220 66 154

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter10: Forecasting Financial Statement

Section: Chapter Questions

Problem 7QE

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