Q6. Based on the data below, A) prepare an income statement for Majdo Inc. for the year ended December 31, 3023. B). Use yourresults to find out: 1. Gross profit margin, 2. operating profit margin, 3. Net profit margin. C). Show the common - size incomestatement. D) find EPS E) What is wrong in the question? (5 marks) Total current liabilities = $3,050, 200 Current assets = $4,000,000 Retained earnings $500,000, Cost of goods sold $10,080,009 Marketing and advertising expenses $ 1,520,001 salesexpenses $1,600,010 marketable securities $5,300, 600 Accumulated depreciation = $1,900, 200 Accounts receivable $1,250,000 Inventory $6,500, 00, Administrative expenses $1,288,000, Depreciation expenses $620, 200 preferred stocks = $1,000,000, Financing expenses $2,100, 100 Sales $21,080, 800 Taxes 17%, Note: number of outstanding shares = 2,000,000

The objective of the question is to prepare an income statement for Majdo Inc. for the year ended…

Answered: Q6. Based on the data below, A) prepare…

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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am. 119.
Required Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt Prepare a vertical analysis of the balance sheets 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).) PEREZ COMPANY Vertical Analysis of Balance Sheets Year 4 Year 3 Percentage of Total Percentage of Total Amount Amount Assets Current assets Cash $ 17,400 % $ 12,600 % Marketable securities 21,000 7,600 Accounts receivable (net) 54,700 46,900 Inventories 136,200 144,400 Prepaid items 25,700 11,800 Total current assets 255,000 223,300 Investments 28,100 21,000 Plant (net) 270,500 255,100 Land 29,700 24,900 Total long-term assets 328,300 301,000 Total assets $ 583,300 $ 524,300 Liabilities and stockholders' equity Liabilities Current liabilities Notes payable $ 16,100 $ 5,000…
1) The Ivy Corporation shows the following data: Current assets: $400,000 Current liabilities: $210,000 Inventory: 500,000 Current assets…
Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) ALLENDALE COMPANY Horizontal Analysis of Income Statements Year 4 Year 3 % Change Revenues Sales (net) $ 230,000 $ 210,000 % Other revenues 8,000 5,000 Total revenues 238,000 215,000 Expenses Cost of goods sold 120,000 103,000 Selling, general, and administrative expenses 55,000 50,000 Interest expense 8,000 7,200 Income tax expense 23,000 22,000 Total expenses 206,000 182,200 Net income (loss) $ 32,000 $ 32,800 %
can you help me fill out my balance sheets based on my journal.
ument, click Duplicate. Quality Kitchen Company's 2026 single-step income statement and comparative balance sheet are provided below: QUALITY KITCHEN COMPANY Income Statement Year Ended December 31, 2026 Revenue Expenses Cost of goods sold. Salaries....... Other operating expense Depreciation expense...... Interest Income taxes. Profit... Cash. Accounts receivable Inventory. Prepaid expenses... Land ...... Building and equipment - cost. Accumulated depreciation. Total assets. Accounts payable. Taxes payable. Interest payable. Salaries payable. Long-term debt. Common shares. Retained earnings. QUALITY KITCHEN COMPANY Balance Sheet December 31 $493,500 189,000 73,500 25,000 Assets Total liabilities and shareholders' equity Liabilities and Shareholders' Equity 13,000 18,000 812,000 $ 108,000 2026 $920,000 $14,000 $10,000 29,000 13,500 2,000 2025 24,000 17,000 2,000 250,000 250,000 497,000 422,000 (150,000) (125,000) $655.500 $ 600.000 1 $25,900 $22,400 1,000 1,500 8,000 3,000 2,500 5,000…
Here is the income statement for Crane, Inc. Net sales Cost of goods sold Gross profit Expenses (including $14,800 interest and $21,600 income taxes) Net income Additional information: 1. 2. 3. a. b. Crane, Inc. Income Statement For the Year Ended December 31, 2025 C. Compute the following measures for 2025. (Round Earnings per share to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 2.5%) d. Common stock outstanding January 1, 2025, was 20,900 shares, and 36,200 shares were outstanding at December 31, 2025. (Use a simple average for weighted-average.) The market price of Crane stock was $12 on December 31, 2025. Cash dividends of $23,600 were declared and paid. Earnings per share Price-earnings ratio Payout ratio $449,500 218,400 231,100 77,600 $153,500 Times interest earned $ times % times
am. 116.
2) Ratios Based on the information given in picture #1, complete the following ratios for the last TWO years and indicate whether the trend is favorable or unfavorable. Note percentages and times should be to one decimal place (e.g. 14.8%; 5.8x) Profitability Ratios Current Yr. Prior Yr. Fav/Unfav. Gross Margin (%) {Gross Income/Sales Revenue} Profit Margin (%) {Net income/ Sales Revenue} Return on Assets (%) {Net Income/ Average Total Assets}
Operating data for Sandhill Corporation are presented as follows. 2027 2026 Net sales $827,400 $647,900 Cost of goods sold 525,399 408,177 Selling expenses 124,110 77,748 Administrative expenses 74,466 51,832 Income tax expense 37,233 25,916 Net income 66,192 84,227 Prepare a schedule showing a vertical analysis for 2027 and 2026. (Round percentages to 1 decimal place, e.g. 12.1%.) SANDHILL CORPORATION Condensed Income Statements For the Years Ended December 31 Net sales $ Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income 2027 Amount Percent % $ % % % % ' " % % 10 $ % $ Amount 2026 Per
Compute the component percentages for Trixy Magic’s income statement below. (Enter your answers as a percentage rounded to 2 decimal place (i.e. 0.1234 should be entered as 12.34). Enter all answers as positive values.)
5 )

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