Subject: accounting Bet SalesCoat of Goods soldGross ProfitSelling, General, and Administrative ExpensesIncome from OperationsInterest ExpenseIncome before Income TaxIncome Tax Expenseset IncomeNet Proft Marginun Equity7 Gross Proft PercentagePrice/Earrings RatioCuentatoLOCKEY FENCING CORPORATIONIncohe Statementsfor the Tears Inded December 31Times interest Earned RatioCurrentO improvedO Deteriorated$100,000100.058.014,00042.000 42.09,00013,0001,00010.0009,000$31.0009.913.02.030.09.021.06PERVLOG$75,00045,00030,0004,50025,5001,75021,1506,52515,225100.060.0Required:a. Which ratios have been included in the above calculations? (You may select more than one answer. Single click the box with thequestion mark to produce a check mark for a correct answer and double click the box with the question mark to empty the boxfor a wrong answer.)40.06.034.05,029.020.30b. Have these two ratios improved or deteriorated in the current year compared to the previous year?

Vertical analysis of the income statement shows other elements of the income statement as a…

Net Sales Cost of Goods sold Gross Profit Selling, General, and Administrative Expenses 1scene from Operations Interest Expen Income before Income Tax Income Tax Expense Set Income Net Prof Margin 7 Retum an Equity Gross Prott Percentage 7Price/Earrings Ratio Cument Rato LOCKEY FENCING CORPORATION Income Statements for the Tears Inded December 31 Times interest Earned Ratio Current O improved O Deteriorated $100,000 18,000 42,000 9,000 13,000 1.900 30.000 1,000 $ 21,000 Required: a. Which ratios have been included in the above calculations? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) 100.0 58.0 42.0 9.0 13.0 3.0. 30.0 21.01 PREVIOU $75,000 45,000 30,000 4,500 100.0 60.0 40.0 6.0 34.0 5.0 21,750 29.0 6,325 1.7 20.3 15,225 25,500 3,750 b. Have these two ratios improved or deteriorated in the current year compared to the previous year?

Net Sales Cost of Goods sold Gross Profit Selling, General, and Administrative Expenses 1scene from Operations Interest Expen Income before Income Tax Income Tax Expense Set Income Net Prof Margin 7 Retum an Equity Gross Prott Percentage 7Price/Earrings Ratio Cument Rato LOCKEY FENCING CORPORATION Income Statements for the Tears Inded December 31 Times interest Earned Ratio Current O improved O Deteriorated $100,000 18,000 42,000 9,000 13,000 1.900 30.000 1,000 $ 21,000 Required: a. Which ratios have been included in the above calculations? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) 100.0 58.0 42.0 9.0 13.0 3.0. 30.0 21.01 PREVIOU $75,000 45,000 30,000 4,500 100.0 60.0 40.0 6.0 34.0 5.0 21,750 29.0 6,325 1.7 20.3 15,225 25,500 3,750 b. Have these two ratios improved or deteriorated in the current year compared to the previous year?

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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Question

Subject: accounting

Bet Sales
Coat of Goods sold
Gross Profit
Selling, General, and Administrative Expenses
Income from Operations
Interest Expense
Income before Income Tax
Income Tax Expense
set Income
Net Proft Margin
un Equity
7 Gross Proft Percentage
Price/Earrings Ratio
Cuentato
LOCKEY FENCING CORPORATION
Incohe Statements
for the Tears Inded December 31
Times interest Earned Ratio
Current
O improved
O Deteriorated
$100,000
100.0
58.0
14,000
42.000 42.0
9,000
13,000
1,000
10.000
9,000
$31.000
9.9
13.0
2.0
30.0
9.0
21.06
PERVLOG
$75,000
45,000
30,000
4,500
25,500
1,750
21,150
6,525
15,225
100.0
60.0
Required:
a. Which ratios have been included in the above calculations? (You may select more than one answer. Single click the box with the
question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box
for a wrong answer.)
40.0
6.0
34.0
5,0
29.0
20.30
b. Have these two ratios improved or deteriorated in the current year compared to the previous year?

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