JKL Company COMPARATIVE BALANCE SHEET For the Year 2015 & 2016 2015 290,000 Assets 2016 400,000 Cash Accounts Receivable 120,000 100,000 40,000 60,000 10,000 520,000 Trading Securities 20,000 80,000 Inventories Prepaid Expenses Total Current Assets 20.000 620,000 Total Non-Current 200,000 300,000 Assets Total Assets 720,000 920,000 Liabilities Total Current Liabilities 100,000 50,000 Total Non-Current Liabilities 300,000 450,000 Owner's Equity Total Owner's Equity 320.000 420,000 Total Liabilities & OE 720,000 920,000 JKL Company COMPARATIVE INCÓME STATEMENT For the Year 2015 & 2016: 2015 2016 Net Sales 700,000 900,000 (80,000) (100,000) 600,000 Cost of Goods Sold 820,000 Gross Profit Operating Expenses (50,000) (120,000) Earnings Before Interest and Taxes 550,000 700,000 - Interest Expense (10,000) (50,000 NI before Tax 540,000 650,000 - Income Tax [162,000) (195,000) Net Income 378,000 455,000
JKL Company COMPARATIVE BALANCE SHEET For the Year 2015 & 2016 2015 290,000 Assets 2016 400,000 Cash Accounts Receivable 120,000 100,000 40,000 60,000 10,000 520,000 Trading Securities 20,000 80,000 Inventories Prepaid Expenses Total Current Assets 20.000 620,000 Total Non-Current 200,000 300,000 Assets Total Assets 720,000 920,000 Liabilities Total Current Liabilities 100,000 50,000 Total Non-Current Liabilities 300,000 450,000 Owner's Equity Total Owner's Equity 320.000 420,000 Total Liabilities & OE 720,000 920,000 JKL Company COMPARATIVE INCÓME STATEMENT For the Year 2015 & 2016: 2015 2016 Net Sales 700,000 900,000 (80,000) (100,000) 600,000 Cost of Goods Sold 820,000 Gross Profit Operating Expenses (50,000) (120,000) Earnings Before Interest and Taxes 550,000 700,000 - Interest Expense (10,000) (50,000 NI before Tax 540,000 650,000 - Income Tax [162,000) (195,000) Net Income 378,000 455,000
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.10E
Related questions
Question
Compute for Gross Margin Ratio, Profit Margin Ratio, Return on Asset Ratio in 2015 and 2016
![JKL Company
COMPARATIVE BALANCE SHEET
For the Year 2015 & 2016
Assets
2015
2016
400,000
100,000
20,000
80,000
20.000
620,000
Cash
290,000
120,000
40,000
60,000
10,000
520,000
Accounts Receivable
Trading Securities
Inventories
Prepaid Expenses
Total Current Assets
Total Non-Current
200,000 300,000
Assets
Total Assets
720,000
920,000
Liabilities
Total Current
Liabilities
100,000
50,000
Total Non-Current
Liabilities
300,000 450,000
Owner's
Equity
Total Owner's Equity
320,000
420,000
Total Liabilities & OE
720,000
920,000
JKL Company
COMPARATIVE INCÓME STATEMENT
For the Year 2015 & 2016:
2015
2016
Net Sales
700,000
900,000
Cost of Goods Sold
(100,000)
(80,000)
Gross Profit
600,000
820,000
Operating Expenses
(50,000)
(120,000)
Earnings Before Interest 550,000
and Taxes
700,000
Interest Expense
(10,000)
(50,000
650,000
[195,000)
NI before Tax
540,000
Income Tax
(162,000)
Net Income
378,000
455,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd82d7663-6878-4927-8791-754ae27e6dc4%2F77535208-3d96-499d-9931-ae9401653a69%2Fv1mfoa_processed.jpeg&w=3840&q=75)
Transcribed Image Text:JKL Company
COMPARATIVE BALANCE SHEET
For the Year 2015 & 2016
Assets
2015
2016
400,000
100,000
20,000
80,000
20.000
620,000
Cash
290,000
120,000
40,000
60,000
10,000
520,000
Accounts Receivable
Trading Securities
Inventories
Prepaid Expenses
Total Current Assets
Total Non-Current
200,000 300,000
Assets
Total Assets
720,000
920,000
Liabilities
Total Current
Liabilities
100,000
50,000
Total Non-Current
Liabilities
300,000 450,000
Owner's
Equity
Total Owner's Equity
320,000
420,000
Total Liabilities & OE
720,000
920,000
JKL Company
COMPARATIVE INCÓME STATEMENT
For the Year 2015 & 2016:
2015
2016
Net Sales
700,000
900,000
Cost of Goods Sold
(100,000)
(80,000)
Gross Profit
600,000
820,000
Operating Expenses
(50,000)
(120,000)
Earnings Before Interest 550,000
and Taxes
700,000
Interest Expense
(10,000)
(50,000
650,000
[195,000)
NI before Tax
540,000
Income Tax
(162,000)
Net Income
378,000
455,000
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