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Problem #1 Horizontal Analysis Estrada, Inc. is concerned about the level of its advertising and office salaries expente Selected statement of comprehensive income data from 2014 to 2016 appear below 2016 2015 2014 P60,000 37,200 3,300 P37,500 Sales Gross Profit Advertising Expense Office Salaries Expense Profit P140,000 89,600 7,000 22,400 22,500 2,250 4,500 9,000 9,000 30,800 13,800 Required: Calculate trend percentages for sales, advertising expense and office salaries expense. Use 2014 as the base year. Round to the nearest percent. Problem 2 Common-Size Statement of Comprehensive Income Required: Convert the following statement of comprehensive income into a common-size statement: Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Distribution Costs General and Administrative Expenses Profit before Income Taxes Provision for Income Taxes P180,000 99,000 P 81,000 P43,200 16,200 59,400 P 21,600 Profit 7,560 P 14,040

Problem #1 Horizontal Analysis Estrada, Inc. is concerned about the level of its advertising and office salaries expente Selected statement of comprehensive income data from 2014 to 2016 appear below 2016 2015 2014 P60,000 37,200 3,300 P37,500 Sales Gross Profit Advertising Expense Office Salaries Expense Profit P140,000 89,600 7,000 22,400 22,500 2,250 4,500 9,000 9,000 30,800 13,800 Required: Calculate trend percentages for sales, advertising expense and office salaries expense. Use 2014 as the base year. Round to the nearest percent. Problem 2 Common-Size Statement of Comprehensive Income Required: Convert the following statement of comprehensive income into a common-size statement: Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Distribution Costs General and Administrative Expenses Profit before Income Taxes Provision for Income Taxes P180,000 99,000 P 81,000 P43,200 16,200 59,400 P 21,600 Profit 7,560 P 14,040

FINANCIAL ACCOUNTING
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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