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 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 Year 2 Year 1 $ 204,000 $ 178,500 115,500 101,400 88,500 69,100 57,400 53,700 31,100 15,400 9,400 4,700 $ 21,700 $ 5,400 14,708 41,400 47,100 $ 10,700 $ 7,700 18,700 36,800 39,400 $ 108,600 $ 102,600 $ 16,700 45,700 33,500 12,700 $ 17,700 45,700 33,500 5,700 $ 108,600 $ 102,600 Required: 1. Compute component percentages for Year 2 Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet 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). Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities CHINOOK COMPANY Balance Sheet Component Percentages Year 2 % % % % 0.00 % % % % % 0.00% < Income Statement Balance Sheet > Long-term liabilities (interest rate: 12%) Common stock ($5 par value, 6,700 shares outstanding) Retained earnings Total liabilities and stockholders' equity
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 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 Year 2 Year 1 $ 204,000 $ 178,500 115,500 101,400 88,500 69,100 57,400 53,700 31,100 15,400 9,400 4,700 $ 21,700 $ 5,400 14,708 41,400 47,100 $ 10,700 $ 7,700 18,700 36,800 39,400 $ 108,600 $ 102,600 $ 16,700 45,700 33,500 12,700 $ 17,700 45,700 33,500 5,700 $ 108,600 $ 102,600 Required: 1. Compute component percentages for Year 2 Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet 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). Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities CHINOOK COMPANY Balance Sheet Component Percentages Year 2 % % % % 0.00 % % % % % 0.00% < Income Statement Balance Sheet > Long-term liabilities (interest rate: 12%) Common stock ($5 par value, 6,700 shares outstanding) Retained earnings Total liabilities and stockholders' equity
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12: Financial Statements, Closing Entries, And Reversing Entries
Section: Chapter Questions
Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...
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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
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
Year 2
Year 1
$ 204,000
$ 178,500
115,500
101,400
88,500
69,100
57,400
53,700
31,100
15,400
9,400
4,700
$ 21,700
$ 5,400
14,708
41,400
47,100
$ 10,700
$ 7,700
18,700
36,800
39,400
$ 108,600
$ 102,600
$ 16,700
45,700
33,500
12,700
$ 17,700
45,700
33,500
5,700
$ 108,600
$ 102,600
Required:
1. Compute component percentages for Year 2
Complete this question by entering your answers in the tabs below.
Income
Statement
Balance Sheet
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).
Cash
Accounts receivable (net)
Inventory
Property and equipment (net)
Total assets
Current liabilities
CHINOOK COMPANY
Balance Sheet
Component
Percentages Year 2
%
%
%
%
0.00 %
%
%
%
%
0.00%
< Income Statement
Balance Sheet >
Long-term liabilities (interest rate: 12%)
Common stock ($5 par value, 6,700 shares outstanding)
Retained earnings
Total liabilities and stockholders' equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6ba0e587-a052-4bea-ab4d-afeecfa845fe%2Fcc1b1551-a7e2-4dcd-8854-6d1df225b98a%2Fhq0j07_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
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
Year 2
Year 1
$ 204,000
$ 178,500
115,500
101,400
88,500
69,100
57,400
53,700
31,100
15,400
9,400
4,700
$ 21,700
$ 5,400
14,708
41,400
47,100
$ 10,700
$ 7,700
18,700
36,800
39,400
$ 108,600
$ 102,600
$ 16,700
45,700
33,500
12,700
$ 17,700
45,700
33,500
5,700
$ 108,600
$ 102,600
Required:
1. Compute component percentages for Year 2
Complete this question by entering your answers in the tabs below.
Income
Statement
Balance Sheet
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).
Cash
Accounts receivable (net)
Inventory
Property and equipment (net)
Total assets
Current liabilities
CHINOOK COMPANY
Balance Sheet
Component
Percentages Year 2
%
%
%
%
0.00 %
%
%
%
%
0.00%
< Income Statement
Balance Sheet >
Long-term liabilities (interest rate: 12%)
Common stock ($5 par value, 6,700 shares outstanding)
Retained earnings
Total liabilities and stockholders' equity
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