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

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Q4. Comparative financial statement data of Field, Inc., follow:
FIELD, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015
VERTICAL
HORIZONTAL
Increase (Decrease)
Amount Percent
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
Prepaid expenses
Total current assets
Property, plant, and
equipment, net
Total assets
Total current liabilities
Long-term liabilities
Total liabilities
Capital
Total liabilities and equity
2016
$ 500,000
250,000
$ 250,000
140,000
$ 110,000
10,000
$ 100,000
30,000
$ 70,000
2015
$ 400,000
150,000
$ 250,000
100,000
$ 150,000
2016
20,000
$ 130,000
50,000
$ 80,000
FIELD, INC. Comparative Balance Sheet December 31, 2016 and 2015
HORIZONTAL
VERTICAL
2015
2016 2015
Percent Percent
$ 88,000
121,000
158,000
Increase (Decrease) 2016
2015
Amount Percent Percent Percent
$ 101,000
113,000
144,000
16,000
3,000
$ 374,000
$ 370,000
217,000
176,000
$ 591,000
$ 546,000
$ 227,000
$ 240,000
117,000
96,000
$336,000
$ 344,000
247.000
210.000
$ 591,000
$546,000
Requirements: Analyze the financial statements by using horizontal and vertical techniques.
Transcribed Image Text:Q4. Comparative financial statement data of Field, Inc., follow: FIELD, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015 VERTICAL HORIZONTAL Increase (Decrease) Amount Percent 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 Prepaid expenses Total current assets Property, plant, and equipment, net Total assets Total current liabilities Long-term liabilities Total liabilities Capital Total liabilities and equity 2016 $ 500,000 250,000 $ 250,000 140,000 $ 110,000 10,000 $ 100,000 30,000 $ 70,000 2015 $ 400,000 150,000 $ 250,000 100,000 $ 150,000 2016 20,000 $ 130,000 50,000 $ 80,000 FIELD, INC. Comparative Balance Sheet December 31, 2016 and 2015 HORIZONTAL VERTICAL 2015 2016 2015 Percent Percent $ 88,000 121,000 158,000 Increase (Decrease) 2016 2015 Amount Percent Percent Percent $ 101,000 113,000 144,000 16,000 3,000 $ 374,000 $ 370,000 217,000 176,000 $ 591,000 $ 546,000 $ 227,000 $ 240,000 117,000 96,000 $336,000 $ 344,000 247.000 210.000 $ 591,000 $546,000 Requirements: Analyze the financial statements by using horizontal and vertical techniques.
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