Required Information P13-6 (Algo) Computing Comparative Financial Statements and ROA Profit Driver Ratios LO 13-3. 13-4. 13-5 [The following information applies to the questions displayed below.] The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax $ 284,000 Year 2 Year 1 $ 178,500 115,500 101,400 88,500 69,100 57,400 53,700 31,100 Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 12%) Common stock ($5 par value, 6,780 shares outstanding) Retained earnings Total liabilities and stockholders' equity P13-6 Part 1 9,400 $ 21,700 $ 5,400 14,700 15,400 4,700 $ 10,700 $ 7,700 18,700 36,800 41,400 47,100 39,400 $ 108,600 $ 102,600 $ 16,700 $ 17,700 45,700 33,500 12,700 $ 108,600 Required: 1. Compute component percentages for Year 2 Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet 45,700 33,500 5,700 $ 102,600 Compute component percentages for Year 2. Note: Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). CHINOOK COMPANY Income Statement Component Percentages Year 2 Sales revenue Cost of goods sold Gross profit Operating expenses Pretax income Income taxes Net income % % % % % % < Income Statement Balance Sheet >
Required Information P13-6 (Algo) Computing Comparative Financial Statements and ROA Profit Driver Ratios LO 13-3. 13-4. 13-5 [The following information applies to the questions displayed below.] The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax $ 284,000 Year 2 Year 1 $ 178,500 115,500 101,400 88,500 69,100 57,400 53,700 31,100 Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 12%) Common stock ($5 par value, 6,780 shares outstanding) Retained earnings Total liabilities and stockholders' equity P13-6 Part 1 9,400 $ 21,700 $ 5,400 14,700 15,400 4,700 $ 10,700 $ 7,700 18,700 36,800 41,400 47,100 39,400 $ 108,600 $ 102,600 $ 16,700 $ 17,700 45,700 33,500 12,700 $ 108,600 Required: 1. Compute component percentages for Year 2 Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet 45,700 33,500 5,700 $ 102,600 Compute component percentages for Year 2. Note: Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). CHINOOK COMPANY Income Statement Component Percentages Year 2 Sales revenue Cost of goods sold Gross profit Operating expenses Pretax income Income taxes Net income % % % % % % < Income Statement Balance Sheet >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Required Information
P13-6 (Algo) Computing Comparative Financial Statements and ROA Profit Driver Ratios LO 13-3. 13-4.
13-5
[The following information applies to the questions displayed below.]
The comparative financial statements for Chinook Company are below
Income statement
Sales revenue
Cost of goods sold
Gross profit
Operating expenses and interest expense
Pretax income
Income tax
$ 284,000
Year 2
Year 1
$ 178,500
115,500
101,400
88,500
69,100
57,400
53,700
31,100
Net income
Balance sheet
Cash
Accounts receivable (net)
Inventory
Property and equipment (net)
Total assets
Current liabilities (no interest)
Long-term liabilities (interest rate: 12%)
Common stock ($5 par value, 6,780 shares outstanding)
Retained earnings
Total liabilities and stockholders' equity
P13-6 Part 1
9,400
$ 21,700
$ 5,400
14,700
15,400
4,700
$ 10,700
$ 7,700
18,700
36,800
41,400
47,100
39,400
$ 108,600
$ 102,600
$ 16,700
$ 17,700
45,700
33,500
12,700
$ 108,600
Required:
1. Compute component percentages for Year 2
Complete this question by entering your answers in the tabs below.
Income
Statement
Balance Sheet
45,700
33,500
5,700
$ 102,600
Compute component percentages for Year 2.
Note: Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).
CHINOOK COMPANY
Income Statement
Component Percentages
Year 2
Sales revenue
Cost of goods sold
Gross profit
Operating expenses
Pretax income
Income taxes
Net income
%
%
%
%
%
%
< Income Statement
Balance Sheet >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6ba0e587-a052-4bea-ab4d-afeecfa845fe%2F1fe08f81-681f-4ad6-8300-8fb4e60d3e67%2F6w7q4hk_processed.png&w=3840&q=75)
Transcribed Image Text:Required Information
P13-6 (Algo) Computing Comparative Financial Statements and ROA Profit Driver Ratios LO 13-3. 13-4.
13-5
[The following information applies to the questions displayed below.]
The comparative financial statements for Chinook Company are below
Income statement
Sales revenue
Cost of goods sold
Gross profit
Operating expenses and interest expense
Pretax income
Income tax
$ 284,000
Year 2
Year 1
$ 178,500
115,500
101,400
88,500
69,100
57,400
53,700
31,100
Net income
Balance sheet
Cash
Accounts receivable (net)
Inventory
Property and equipment (net)
Total assets
Current liabilities (no interest)
Long-term liabilities (interest rate: 12%)
Common stock ($5 par value, 6,780 shares outstanding)
Retained earnings
Total liabilities and stockholders' equity
P13-6 Part 1
9,400
$ 21,700
$ 5,400
14,700
15,400
4,700
$ 10,700
$ 7,700
18,700
36,800
41,400
47,100
39,400
$ 108,600
$ 102,600
$ 16,700
$ 17,700
45,700
33,500
12,700
$ 108,600
Required:
1. Compute component percentages for Year 2
Complete this question by entering your answers in the tabs below.
Income
Statement
Balance Sheet
45,700
33,500
5,700
$ 102,600
Compute component percentages for Year 2.
Note: Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).
CHINOOK COMPANY
Income Statement
Component Percentages
Year 2
Sales revenue
Cost of goods sold
Gross profit
Operating expenses
Pretax income
Income taxes
Net income
%
%
%
%
%
%
< Income Statement
Balance Sheet >
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