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. Balance Sheet Prepare a vertical analysis of the income statements for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45). Revenues Sales (net) Other revenues Income Statement Total revenues Expenses Cost of goods sold Selling, general, and administrative expense Interest expense Income tax expense Total expenses Net income FANNING COMPANY Vertical Analysis of Income Statements Year 4 Amount $ 230,300 8.100 238,400 118,500 53,800 7,900 22,800 203.000 $35.400
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. Balance Sheet Prepare a vertical analysis of the income statements for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45). Revenues Sales (net) Other revenues Income Statement Total revenues Expenses Cost of goods sold Selling, general, and administrative expense Interest expense Income tax expense Total expenses Net income FANNING COMPANY Vertical Analysis of Income Statements Year 4 Amount $ 230,300 8.100 238,400 118,500 53,800 7,900 22,800 203.000 $35.400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Fill out income statement please and thank you
Transcribed Image Text: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.
Balance Sheet
Prepare a vertical analysis of the income statements for Year 4 and Year 3.
Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (1.e., .2345 should be
entered as 23.45).
Revenues
Sales (net)
Other revenues
Income
Statement
Total revenues
Expenses
Net income
FANNING COMPANY
Unded For
TEUREGOLD
Vertical Analysis of Income Statements
Cost of goods sold
Selling, general, and administrative expense
Interest expense
Income tax expense
Total expenses
Amount
$ 230.300
8.100
238.400
118.500
53.800
7.900
22.800
203.000
$ 35,400
( Balance Sheet
Percentage of
Total
1%
PAT
Amount
Year 3
$ 211,400
6,600
218,000
102.200
49,200
7,100
21,800
180.300
$ 37,700
Percentage of
Total
%
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education