Prepare a horizontal analysis of the income statement. (Negative answ indicated by a minus sign. Round your answers to 1 decimal place. (i.e entered as 23.4).) Revenues MUNOZ COMPANY Horizontal Analysis of Income Statements Year 3 Year 4 Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses Net income (loss) $ $ 210,200 230,400 8,100 6,000 238,500 216,200 118,200 102,400 53,300 49,600 6,400 5,600 21,500 20,500 199,400 $ 39,100 < Analysis Bal Sheet 178,100 $38,100 % Change % % Analysis Inc Stmt

Prepare a horizontal analysis of the income statement. (Negative answ indicated by a minus sign. Round your answers to 1 decimal place. (i.e entered as 23.4).) Revenues MUNOZ COMPANY Horizontal Analysis of Income Statements Year 3 Year 4 Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses Net income (loss) $ $ 210,200 230,400 8,100 6,000 238,500 216,200 118,200 102,400 53,300 49,600 6,400 5,600 21,500 20,500 199,400 $ 39,100 < Analysis Bal Sheet 178,100 $38,100 % Change % % Analysis Inc Stmt

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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Crane Ltd. reported the following for the fiscal year 2021: Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Gain on sale of land Profit before income tax Income tax expense Profit Additional information: 1. 2. CRANE LTD. Income Statement Year Ended September 30, 2021 3. 4. 5. 6. $ 109,000 34,000 (44,000) $583,000 338,000 245,000 99,000 146,000 36,500 $109,500 Accounts receivable decreased by $16,300 during the year. Inventory increased by $7,800 during the year. Prepaid expenses decreased by $5,800 during the year. Accounts payable to suppliers increased by $11,300 during the year. Accrued expenses payable increased by $5,300 during the year. Income tax payable decreased by $7,100 during the year.
Use the following to answer questions 34 – 39 ST reports the following income statement results: $700,000 221,575 Sales Operating expense Net income 48,800 Sales returns & allowances 25,000 Gross profit 282,825 Interest expense 250 34. $ Calculate Net sales: 35. Calculate Cost of Goods Sold Calculate operating 36. income 37. $ Calculate Income before Income tax (IBT) %. Calculate the gross profit 38. margin (one decimal place) %. Calculate the net profit margin (one 39. decimal place)
Find in Amount ($) and Percentage(%) for Year 2 over Year 1: Income Statement - (a) Sales Revenue (b) Cost of sales (c) Gross Margin
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Complete this question by entering your answers in the tabs below. Analysis Analysis Bal Sheet Inc Stmt Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) Revenues Sales (net) Other revenues Total revenues Expenses Cost of goods sold FANNING COMPANY Vertical Analysis of Income Statements Year 4 Selling, general, and administrative expense Interest expense Income tax expense Total expenses Net income Amount $ 231,900 9,300 241,200 118,800 54,200 6,800 22,800 202,600 $ 38,600 Percentage of Total Analysis Bal Sheet % % Year 3 Amount $ 211,200 6,400 217,600 102,100 49,100 6,000 21,800 179,000 $ Percentage of Total % % 38,600 Analysis Inc Stmt > Show less
Please answer very fast then i ll upvote Calculate EBIT. Revenue 1,061,751.0 Cost of sales 690,135.0 Selling, general and administration 53,087.0 Other income 11,796.0 Operating income 330,325.0 Interest expense 19,874.0 Profit before tax 310,451.0 Tax expense 46,500.0 Net income 263,951.0 The footnotes mention the following: Cost of sales includes inventory write off costs 39,677.0 Cost of sales includes distribution costs 120,458.0 SG&A includes corporate restructuring expenses 15,570.0 Responses 385,572.0 275,078.0 330,325.0 506,030.0
Please create an income statement and include gross profit percentage.
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Rahul
Please provide correct answer
Can you help me with #14-#16?