Answered: Lyndale, Inc.'s sales are $475,000 and…

Lyndale, Inc.'s sales are $475,000 and $390,000 during the current and prior years, respectively. The percentage change is: Multiple Choice 17.9%. 115%. 82.0%. 21.8%.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Richard's Sporting Goods reports net income of $180,000, net sales of $530,000, and average assets…

A: The return on assets is calculated as ratio of net income and average assets.

Q: A company's net sales are $817,990, its costs of goods sold are $449,895, and its profit is…

A: Lets understand the basics. Gross profit margin is a margin generated on sales. It is derived by…

Q: (a) The current ratio of a company is 5:1 and its acid-test ratio is 1:1. If the inventories and…

A: The question is related to Ratio Analysis. The formula used 1.Current Ratio is calculated with the…

Q: Macon Mills is a division of Bolin Products, Inc. During the most recent year, Macon had a net…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Akerley Convention Center. had a net income of $33,000 and $138,000 for the current and prior years,…

A: Net Profit Ratio is the percentage of net profit attributable to sales. It shows how much net profit…

Q: Ivanhoe Corp. has a gross profit margin of 35.00 percent, sales of $33,000,000, and inventory of…

A: A ratio that provides information regarding the number of times a company sold or replaced its…

Q: X-1 Corp's total assets at the end of last year were $495,000 and its EBIT was $52,500. What was its…

A: In this question, we are required to determine the Basic Earning Power (BEP) ratio.

Q: Flitter reported net income of $23,500 for the past year. At the beginning of the year the company…

A: Return on Assets: Return on assets denotes the relationship between a…

Q: The Diamond Corporation has the following ratios: A0*/S0 = 1.6; L0*/S0 = 0.4; Profit Margin = 0.10;…

A: AFN or Additional funds needed means the additional amount of money a company needs, to finance the…

Q: A company's net sales were $724,200, its cost of goods sold was $244,050 and its net income was…

A: GROSS MARGIN RATIO Gross Margin is the ratio between Gross Profit & Net Sales Revenue. Gross…

Q: Crawford Construction has a quick ratio of 2.00x, $32,175 in cash, $17,875 in accounts receivable,…

A: The Quick Ratio is also known as Acid-Test Ratio. It is measure of short-term liquidity and…

Q: The balance sheet of ATLF, Inc. reports total assets of $1,950,000 and $2,050,000 at the beginning…

A: Profit margin ratio is calculating by dividing the net income by net sales.

Q: Mechforce Manufacturing's net Income was $580,000 on sales of $18 million. Average assets for the…

A: Turnover is calculated by dividing net sales revenue by average operating assets. The average…

Q: Ash Company reported sales of $550,000 for Year 1, $600,000 for Year 2, and $650,000 for Year 3.…

A: Trend percentages are used to compare two or more financial percentages. These trend are used to…

Q: Last year, Hassan's Madhatter, Inc. had an ROA of 6 percent, a profit margin of 12.80 percent, and…

A: The provided information are: ROA = 6% Profit margin = 12.80% Sales = $15 Million

Q: Riley Co. has a DOL of 140% and a DFL of 113%. If sales decrease by 12%, what is the expected…

A: DOL measures the percentage change in operating income(EBIT) for a percentage change in sales. A…

Q: Stuart Corporation reported the following operating results for two consecutive years: Required a.…

A: HORIZONTAL ANALYSISHorizontal Analysis is one of the important analysis techniques for financial…

Q: Elizabeth Tailors Inc. has assets of $8,540,000 and turns over its assets 1.8 times per year. Return…

A: A sale is an agreement between a buyer and a seller in which a seller exchanges money in exchange…

Q: Chambliss Corp.'s total assets at the end of last year were $265,000 and its EBIT was 62,500. What…

A: Here, Total Assets is $265,000 EBIT is $62,500

Q: During the current year, Sokowski Manufacturing earned income of $263,340 from total sales of…

A: Formulas: Asset turnover: =Sales / Average capital assets ROI: =Margin * Asset Turnover

Q: A consumer products company reported a 20 percent increase in sales from last year to this year.…

A: Gross profit margin or percentage means the amount of gross profit that an entity could earn as…

Q: Ryngard Corp's sales last year were $42,000, and its total assets were $15,000. What was its total…

A: The total assets turnover ratio measures how efficiently a company generates sales from its total…

Q: Keller Cosmetics maintains an operating profit margin of 8.15% and a sales-to-assets ratio of 3.20.…

A: Sales = $1,696,000Operating profit = $138224Net profit = $73656.80

Q: uring the current year, Peach Industries' reports sales of $184,000 and an average Odays. The…

A: Introduction:- The following formula used to calculate gross margin percentage as follows:- Gross…

Q: A company's sales in Year 1 were $250,000 and in Year 2 were $287,500. Using Year 1 as the base…

A: Formula:Percent Change = [ ( New Value - Old Value ) / Old Value ] * 100% GivenNew Value =…

Q: APX Co achieved $16 million revenue in the year that has just ended and expects revenue growth of…

A: (i) Income Statement for the Next Year:Revenue:Current year revenue: $16 millionExpected revenue…

Q: During the current year, Sokowski Manufacturing earned income of $327,600 from total sales of…

A: Calculation of Asset Turnover Ratio Asset Turnover ratio = Net Sales/ Average Total Assets…

Q: Ash Company reported sales of $550,000 for Year 1, $600,000 for Year 2, and $650,000 for Year 3.…

A: Revenue is the income generated from the sale of goods or services by a business or organization…

Q: Sheridan Corporation had sales of $3007000 and operating income of $511137. Sheridan also had…

A: The question is related to Ratio Analysis. The Return on Investment is calculated with the help of…

Q: During the current year, Sokowski Manufacturing earned income of $319,026 from total sales of…

A: For the calculation of the return on investment it is important to take into account of the net…

Q: Harmony Haven Gifts has sales of $810,200, total assets of $577,900, and a profit margin of 4.3…

A: Sales = s = $810,200Total Assets = ta = $577,900Profit Margin = pm = 4.3%

Q: A company reported net income of $4,805 for October. Its net sales for October were $15,500. Its…

A: Profit margin refers to the measurement tool which measures the degree of profitability of a…

Q: During the current year, Sokowski Manufacturing earned income of $346,500 from total sales of…

A: Please find the answer to the above question below:

Q: During the current year, Sokowski Manufacturing earned income of $206,500 from total sales of…

A: Asset turnover = Sales / Average capital assets ROI = Margin * Turnover

Q: Tarmac Co made sales of $1,930,200 during the year ended 31st March X3. Inventory decreased by…

A: The cost of purchases indicates the total cost incurred like the cost of the item, transportation…

Q: comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the…

A: Comparative statement is the statement of comparison between the two financials. it is the statement…

Question

36
Lyndale, Inc's sales are $475,000 and $390,000 during the current and prior years,
respectively. The percentage change is:
Multiple Choice
17.9%.
115%.
82.0%.
21.8%.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Efficiency ratio: Bummel and Strand Corp. has a gross profit margin of 33.7 percent, Sales of $47,112,365, and inventories of $14,595,435. What is its inventory turnover ratio?
Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous YearSales $4,000,000 $3,600,000Cost of goods sold 2,280,000 1,872,000Selling expenses 600,000 648,000Administrative expenses 520,000 360,000Income tax expense 240,000 216,000a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round to the nearest whole percentage.b. Comment on the significant changes disclosed by the comparative income statement.
Last year, Hassan's Madhatter, Incorporated had an ROA of 6.8 percent, a profit margin of 12.24 percent, and sales of $20 million. Calculate Hassan's Madhatter's total assets. Note: Enter your answer in millions. Total assets million
The balance sheet of ATLF, Inc. reports total assets of $950,000 and $1,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively. What is ATLF's profit margin? Select one: a. 8% b. 15% c. 10% d. 80% e. 12.5%
I need to find which year had the better performance . if : this years information : returns 8% with net sales of 756,000 last years information: returns 11.5% with gross sales of 875,000
During the current year, Sokowski Manufacturing earned income of $347,760 from total sales of $5,520,000 and average capital assets of $12,000,000. A. Based on this information, calculate asset turnover. If required, round your answer to two decimal places. fill in the blank 1 times B. Assume sales margin is 6.3%, what is the total ROI for the company during the current year?. If required, round your answer to one decimal place. fill in the blank 2%
Adams Furniture has a quick ratio of 2.00x, $37,575 in cash, $20,875 in accounts receivable, some inventory, total current assets of $83,500, and total current liabilities of $29,225. The company reported annual sales of $100,000 in the most recent annual report. Additionally, the company’s cost of goods sold is 75% of sales. Over the past year, how often did Adams Furniture sell and replace its inventory? 8.01x 3.29x 2.86x 2.99x
What is the return on assets of The Big Show Inc. that has sales of $428,300, total assets of $389,100, and a profit margin of 7.2 percent? Multiple Choice 7.01 percent 6.30 percent 6.54 percent 7.93 percent 6.83 percent
Sisyphus Inc. records total sales of $657,500 in the current period, with a cost of goods sold of $389,000 . Sisyphus expects 4% of sales to be returned. How much in net sales will Sisyphus recognize for the current period? Group of answer choices $373,400 $268,500 $631,200 $657,500 $257,760 The Sisyphus Inc’s (SSY) Company’s annual statement of cash flows reported the following (in millions): Net cash from financing activities $63,864 Net cash from investing activities -62,512 Cash at the beginning of the year 13,152 Cash at the end of the year 18,948 What did SSY report for “Net cash from operating activities” during the year? Group of answer choices $71,220 million cash inflow None of the above $4,444 million cash outflow $4,444 million cash inflow $71,220 million cash outflow
During the current year, Sokowski Manufacturing earned income of $292,400 from total sales of $4,300,000 and average capital assets of $10,000,000. A. Based on this information, calculate asset turnover. If required, round your answer to two decimal places. fill in the blank times B. Assume sales margin is 6.8%, what is the total ROI for the company during the current year?. If required, round your answer to one decimal place. fill in the blank %
A company's sales last year were $615,000 and its net income was $45.800. It has $465,000 in assets financed only by common equity. Determine the profit margin needed to achieve a 14.5% ROE. Use 4 decimal places in your final answer. Express in percentage
Royce Corp's sales last year were $250,000, and its net income was $23,000. What was its profit margin? a. 9.38% b. 9.57% c. 8.37% d. 9.20% e. 11.32%