Q4. Comparative financial statement data of Field, Inc., follow: FIELD, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015 HORIZONTAL VERTICAL Net sales (all sales on credit) Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income Current assets: Cash Current receivables Inventories 2016 $ 500,000 250,000 $ 250,000 Prepaid expenses Total current assets Property, plant, and equipment, net Total assets Total current liabilities Long-term liabilities 140,000 $ 110,000 100,000 $ 150,000 20,000 $ 130,000 30,000 50,000 $ 70,000 $ 80,000 10,000 $ 100,000 2016 2015 $ 400,000 150,000 $ 250,000 FIELD, INC. Comparative Balance Sheet December 31, 2016 and 2015 HORIZONTAL VERTICAL $ 101,000 113,000 144,000 16,000 $ 374,000 217,000 Increase (Decrease) 2016 2015 Amount Percent Percent Percent 2015 $ 88,000 121,000 158,000 3,000 $ 370,000 176,000 $ 591,000 $ 546,000 $ 227,000 $ 240,000 117,000 96,000 $336,000 Total liabilities $ 344,000 Capital 247.000 210.000 Total liabilities and equity $ 591,000 $546,000 Requirements: Analyze the financial statements by using horizontal and vertical techniques. Increase (Decrease) 2016 2015 Amount Percent Percent Percent
Q4. Comparative financial statement data of Field, Inc., follow: FIELD, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015 HORIZONTAL VERTICAL Net sales (all sales on credit) Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income Current assets: Cash Current receivables Inventories 2016 $ 500,000 250,000 $ 250,000 Prepaid expenses Total current assets Property, plant, and equipment, net Total assets Total current liabilities Long-term liabilities 140,000 $ 110,000 100,000 $ 150,000 20,000 $ 130,000 30,000 50,000 $ 70,000 $ 80,000 10,000 $ 100,000 2016 2015 $ 400,000 150,000 $ 250,000 FIELD, INC. Comparative Balance Sheet December 31, 2016 and 2015 HORIZONTAL VERTICAL $ 101,000 113,000 144,000 16,000 $ 374,000 217,000 Increase (Decrease) 2016 2015 Amount Percent Percent Percent 2015 $ 88,000 121,000 158,000 3,000 $ 370,000 176,000 $ 591,000 $ 546,000 $ 227,000 $ 240,000 117,000 96,000 $336,000 Total liabilities $ 344,000 Capital 247.000 210.000 Total liabilities and equity $ 591,000 $546,000 Requirements: Analyze the financial statements by using horizontal and vertical techniques. Increase (Decrease) 2016 2015 Amount Percent Percent Percent
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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