Question 2The comparative income statement of Zalora Company appears below:Zalora CompanyComparative Statements of Comprehensive Incomefor the years ended 31 December2020 (RM)2019 (RM)Net sales750.000650,000Less: ExpensesCost of goods soldSelling expensesInterest expense388,000330,000108,00096,00010,00010,000Income tax expense18,0006,000Other expense2,000Add: Other income2,000Net income224,000210,000Instructions(a) Prepare a horizontal analysis of the Statements of Comprehensive Income datafor Zalora Company using 2019 as a base.(b) Prepare a vertical analysis of the Statements of Comprehensive Income data forZalora Company for 2019 & 2020.(c) State whether 2020 was a good year or a bad year and give a reason.

Horizontal Analysis: Horizontal analysis is a technique of financial statement analysis, which shows…

Question 2 The comparative income statement of Zalora Company appears below: Zalora Company Comparative Statements of Comprehensive Income for the years ended 31 December 2020 (RM) 2019 (RM) Net sales 750,000 650,000 Less: Expenses Cost of goods sold Selling expenses Interest expense 388,000 330,000 108,000 96,000 10,000 10,000

Question 2 The comparative income statement of Zalora Company appears below: Zalora Company Comparative Statements of Comprehensive Income for the years ended 31 December 2020 (RM) 2019 (RM) Net sales 750,000 650,000 Less: Expenses Cost of goods sold Selling expenses Interest expense 388,000 330,000 108,000 96,000 10,000 10,000

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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K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...
Subject :- Accounting
The comparative statements of Wahlberg Company are presented here. 2 of 4 Wahlberg Company Income Statement For the Years Ended December 31 2020 2019 Net sales $1,813,300 $1,745,300 Cost of goods sold 1,010,100 994,000 Gross profit 803,200 751,300 Selling and administrative expenses 512.200 481,600 Income from operations 291,000 269,700 Other expenses and losses Interest expense 18,700 14,000 Income before income taxes 272,300 255,700 Income tax expense 82,022 77,800 Net income $ 190,278 $ 177,900 Wahlberg Company Balance Sheets December 31 Assets 2020 2019 Current assets Cash $59,500 $64,500 Debt investments (short-term) 70,800 50,500 Accounts receivable 117,900 101,500 Inventory 123,000 115,600 Total current assets 371,200 332,100 Plant assets (net) 600,700 516,300 Total assets $971,900 $848,400 Liabilities and Stockholders' Equity Current liabilities Accounts payable $159,000 $144,100 Income taxes payable 42,200 41,200 Total current liabilities 201,200 185,300 Bonds payable 220,000…
Question 18 Given: 2019 Sales $216,259 2020 Sales $290,149 2019 Operating Income = $102,258 2020 Operating Income = $174,701 2019 Net Income = $55,852 2020 Net Income = $83,735 Calculate DOL: (Enter your answer with 2 decimal places)
Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 $ 474, 200 285,468 2819 $363, 276 228,864 188, 732 134,412 67,336 50, 132 42,678 31, 968 119,014 82, 198 78, 718 52,312 14,642 19,724 $ 64,976 $ 41,588 S Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31, 2020, 2019, and 2018 2020 Common-Size Comparative Income Statements For Years Ended December 31, 2020, 2019, and 2018 2020 100.00 % 2019 100.00 % Assets Current assets Long-term investments Plant assets,…
comparative income statements of Arab Manufacturing Company are shown below. 2019 $38,610 $32,175 $25,740 2020 2018 Net sales 25,100 19,950 S13,510 S12,225 $10,340 7,700 4,270 Cost of sales 15,400 Gross profit Selling expenses 6,565 5,148 Administrative 4.175 3,861 expenses Total operating S11,970 $10,740 $9.009 expenses Operating S 1,540 S1,485 $1,331 income Interest expense 115 95 100 Net income S 1,425 S 1,390 $1,231 before tax 655 645 S 770 S 745 541 $ 690 Income taxes Net income Required: a. Perform a vertical, common size analysis of the income statement data for Arab Manufacturing Company in columnar form, using sales as the base. b. Comment briefly on significant trends and relationships revealed by the computations. :52 PM
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LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2022 and 2023 2023 2022 Gross sales $ 19,000 $ 15,000 Sales returns and allowances 1,000 100 Net sales $ 18,000 $ 14,900 Cost of merchandise (goods) sold 12,000 9,000 Gross profit $ 6,000 $ 5,900 Operating expenses: Depreciation $ 700 $ 600 Selling and administrative 2,200 2,000 Research 550 500 Miscellaneous 360 300 Total operating expenses $ 3,810 $ 3,400 Income before interest and taxes $ 2,190 $ 2,500 Interest expense 560 500 Income before taxes $ 1,630 $ 2,000 Provision for taxes 640 800 Net income $ 990 $ 1,200 Current assets: LOGIC COMPANY Comparative Balance Sheet December 31, 2022 and 2023 2023 2022 Assets Cash $ 12,000 $ 9,000 Accounts receivable 16,500 12,500 Merchandise inventory 8,500 14,000 Prepaid expenses 24,000 10,000 Total current assets $ 61,000 $ 45,500 Plant and equipment: Building (net) $ 14,500 $…