Prepare a comparative statements for Sunshine Co. showing an income statement for 3 year period. 2019. 2020. 2021 Sale 500,000. 475,0000. 505,000 Less: Cost of sales. 300,000. 210,000. 250,000 Gross Profit on Sales. 200,000. 265,000 255,000 Less: Operating Expenses. 120,000. 180,000. 155,000 Net Income 80,000. 85,000. 100,000

Prepare a comparative statements for Sunshine Co. showing an income statement for 3 year period. 2019. 2020. 2021 Sale 500,000. 475,0000. 505,000 Less: Cost of sales. 300,000. 210,000. 250,000 Gross Profit on Sales. 200,000. 265,000 255,000 Less: Operating Expenses. 120,000. 180,000. 155,000 Net Income 80,000. 85,000. 100,000

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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Return on total assets ratio: net income/ avg. total assets 21,331/(321,195+225,248)/2= 0.07807= 7.8% (Amazon 2020 year) 6.0% (Amazon 2019 year) 6.37% (Walmart 2020 year) Write financial analysis report.
Provide Answer with calculation and explanation
2020 Revenue $432,000 Returns, allowances, discounts ($21,600) Cost of goods sold ($280,800) Operating expenses ($45,000) Net Income $84,600 Use the above information to calculated the gross margin/profit ratio.
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b. If Eagle chooses not to issue new shares of stock, what variable must be the balancing item?