Problem 2- Prepare a vertical analysis schedule Here is the operating data for Yalis Cleaning, Inc.: 2021 2020 Service revenue $ 523,000 $ 476,000 385,500 Operating expenses 319,800 39,050 34,375 Net income $ 103,125 $ 117,150 Income tax expense Purpose The purpose of this problem is to demonstrate an understanding of preparing a vertical analysis schedule. Instructions After analyzing the transactions, prepare a vertical analysis schedule for the company for 2021 and 2020 using service revenue as the base amount. Round percentages to two decimal places.

Problem 2- Prepare a vertical analysis schedule Here is the operating data for Yalis Cleaning, Inc.: 2021 2020 Service revenue $ 523,000 $ 476,000 385,500 Operating expenses 319,800 39,050 34,375 Net income $ 103,125 $ 117,150 Income tax expense Purpose The purpose of this problem is to demonstrate an understanding of preparing a vertical analysis schedule. Instructions After analyzing the transactions, prepare a vertical analysis schedule for the company for 2021 and 2020 using service revenue as the base amount. Round percentages to two decimal places.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

this is complete 1 question, Please provide answer in text (Without image)
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $266,060 Work in process 478,910 Finished goods 460,280 $324,590 441,440 451,180 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory $220,400 31,160 41,870 499,870 16,550 58,430 490,130 171,060 13,630 28,240 23,050 2,294,850 281,740 11,360 7,140
Multiple step income statement On March 31st 2019 the balances of the accounts appearing in The Ledger of Francine furnishing company a furniture wholesaler are as follows: Accumulated depression building 786,300 Administrative expenses $554,600 Building $2,470, 850 Cash $183,100 Cost of merchandise sold $3,803,200 Interest expense $9,950 Kathy Melman, Capital $ 1,524,950 Kathy Melman, Drawing $175, 850 Merchandise inventory$947,400 Notes payable $285,050 Office supplies $19,500 Salaries payable $7,600 Sales $ 6,262,800 Selling Expenses $ 742,350 Store supplies $86,000 A. Prepare a multiple -step income statement for the year ended in March 31,2019. Racine FurnishingS Company Income Statement For the year ended March 31,2019 ___________________________________ _______. $ $ Gross profit. $ Expenses : ________ $ ________ _______ Total expenses ________…
Comparative data on three companies in the same service industry are given below: Required: 2. Fill in the missing information. (Round the "Turnover" and "ROI" answers to 2 decimal places.) Sales Net operating income Average operating assets Margin Turnover Return on investment (ROI) Company A $ 3,420,000 $ 581,400 $ 1,900,000 % % Company B $ 1,335,000 $ 253,650 % 9.50 % Company C $ 3,050,000 3 % 1.70 %
Don't provide answers in image format
attached in ss below thanks for hlp appareicated it apizaepigjwr hwhp 5whjipw5hw ihw 5
Requirement 1. Recast the income statement to emphasize contribution margin. Starlet Cosmetics Operating Income Statement, June 2017 %3D
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Liz Raiborn Incorporated has the following financial results for the years 2022 through 2024 for its three regional divisions: 2022 2023 2024 Revenue Southwest $ 14,725 $ 21,825 $ 25,825 Midwest 6,525 6,825 7,025 Southeast 12,225 12,825 13,125 Total $ 33,475 $ 41,475 $ 45,975 Net Operating Income Southwest $ 925 $ 1,025 $ 1,175 Midwest 1,075 1,425 1,375 Southeast 825 1,025 1,425 Total $ 2,825 $ 3,475 $ 3,975 Average Total Assets Southwest $ 13,825 $ 14,025 $ 16,625 Midwest 4,525 4,025 4,025 Southeast 5,125 5,425 5,425 Total $23,475 $ 23,475 $ 26,075 Required: Calculate return on sales (ROS), asset turnover (AT), and return on investment (ROI) for each division and also for the firm as a whole for each of the three…
5
rr
Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2022, and from its Complete this question by entering your answers in the tabs below. March 31, 2022, balance sheet to complete the requirements. Computer services revenue Net sales (of goods) Total sales and revenue Cost of goods sold. Net income Quick assets Current assets Total assets Current liabilities Total liabilities. Total equity Required 1 Required: 1. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. 2. Compute the current ratio and acid-test ratio. 3. Compute the debt ratio and equity ratio. 4. What percent of its assets are current? What percent are long term? Required 2 Complete this question by entering your answers in the tabs below. $ 25,307 18,693 44,000 Required 3 Gross margin ratio Net profit margin ratio 14,052 18,833 90,924 95,568 120,268 875 875 119,393 % Compute the gross margin ratio (both with and…