Exercise 12-4 (Algo) Part 1Required:1. Prepare a vertical analysis of the balance sheet data for 2025 and 2024. Express each amount as a percentage of totalassets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.)AssetsCashAccounts receivableInventoryBuildingsLess: Accumulated depreciationTotal assetsLiabilities and Stockholders' EquityAccounts payableContingent liabilityCommon stockRetained earningsTotal liabilities and stockholders' equityFEDERER SPORTS APPARELBalance SheetDecember 31Amount2025$ 1,712,5001,175,0002,862,5008,250,000(1,500,000)$ 12,500,000$1,237,5001,200,0005,100,0004,962,500$ 12,500,000%$Amount2024600,000780,0001,120,0008,250,000(750,000)$10,000,000.$ 1,300,0001,120,0005,100,0002,480,000$10,000,000% $2. Prepare a horizontal analysis for 2025 using 2024 as the base year. (Note: If the percentage increase or decrease cannot becalculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimaplace.)AssetsCashAccounts receivableInventoryBuildingsLess: Accumulated depreciationTotal assetsLiabilities and Stockholders' Equity.Accounts payableContingent liabilityCommon stockFEDERER SPORTS APPARELBalance SheetDecember 31Retained earningsTotal liabilities and stockholders' equity2025Year2024600,000780,0001,120,0008,250,000(750,000)$ 1,712,500 $1,175,0002,862,5008,250,000(1,500,000)$ 12,500,000 $10,000,000$ 1,237,500 $1,300,0001,200,0001,120,0005,100,0005,100,0004,962,5002,480,000$ 12,500,000 $10,000,000Increase (Decrease)Amount$%

Vertical analysis and horizontal analysis are two methods used in financial statement analysis to…

Required: 1. Prepare a vertical analysis of the balance sheet data for 2025 and 2024. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity FEDERER SPORTS APPAREL Balance Sheet December 31 Amount 2025 $ 1,712,500 1,175,000 2,862,500 8,250,000 (1,500,000) $ 12,500,000 $ 1,237,500 1,200,000 5,100,000 4,962,500 $ 12,500,000 $ Amount 2024 600,000 780,000 1,120,000 8,250,000 (750,000) $ 10,000,000 $ 1,300,000 1,120,000 5,100,000 2,480,000 $10,000,000

Required: 1. Prepare a vertical analysis of the balance sheet data for 2025 and 2024. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity FEDERER SPORTS APPAREL Balance Sheet December 31 Amount 2025 $ 1,712,500 1,175,000 2,862,500 8,250,000 (1,500,000) $ 12,500,000 $ 1,237,500 1,200,000 5,100,000 4,962,500 $ 12,500,000 $ Amount 2024 600,000 780,000 1,120,000 8,250,000 (750,000) $ 10,000,000 $ 1,300,000 1,120,000 5,100,000 2,480,000 $10,000,000

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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The balance sheets for Dual Monitors Corporation and additional information are provided below. DUAL MONITORS CORPORATION Balance Sheets December 31, 2024 and 2023 Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Additional Information for 2024: 1. Net Income is $150,600. 2. Sales on account are $1,215,500. (All sales are credit sales.) 3. Cost of goods sold is $973,400. Complete this question by entering your answers in the tabs below. a. Gross profit ratio b. Return on assets c. Profit margin d. Asset turnover e. Return on equity 2024 19.9 % 13.9 % %6 $208,600 60,000 86,000 3,100 times %6 390,000 390,000 700,000 580,000 (338,000) (178,000)…
Required information Skip to question [The following information applies to the questions displayed below.] The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below. Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)
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Required Information [The following information applies to the questions displayed below.] A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities. Equity Common stock, $5 par value Retained earnings Total liabilities and equity Sales Cost of goods sold Gross profit 2821 $ 62,700 27,000 56,600 3,500 Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income 1. Cash paid for inventory 2. Cash paid for operating expenses 149,800 70,500 (10,900) $ 209,400 $ 9,900 5,900 1,000 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 16,800 20,700 37,500…
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