Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000 $440,000 Cost of goods sold 325,000 242,000 Selling expense 70,000 79,200 Administrative expenses 75,000 70,400 Income tax expense 10,500 16,400 Required: a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent. Young Technologies Inc. Comparative Income Statement For the Years Ended December 31, Year 2 and Year 1 Year 2 Amount Year 2 Percent Year 1 Amount Year 1 Percent $fill in the blank 0b884b011fe8068_2 fill in the blank 0b884b011fe8068_3% $fill in the blank 0b884b011fe8068_4 fill in the blank 0b884b011fe8068_5% fill in the blank 0b884b011fe8068_7 fill in the blank 0b884b011fe8068_8% fill in the blank 0b884b011fe8068_9 fill in the blank 0b884b011fe8068_10% $fill in the blank 0b884b011fe8068_12 fill in the blank 0b884b011fe8068_13% $fill in the blank 0b884b011fe8068_14 fill in the blank 0b884b011fe8068_15% fill in the blank 0b884b011fe8068_17 fill in the blank 0b884b011fe8068_18% fill in the blank 0b884b011fe8068_19 fill in the blank 0b884b011fe8068_20% fill in the blank 0b884b011fe8068_22 fill in the blank 0b884b011fe8068_23% fill in the blank 0b884b011fe8068_24 fill in the blank 0b884b011fe8068_25% Total expenses $fill in the blank 0b884b011fe8068_26 fill in the blank 0b884b011fe8068_27% $fill in the blank 0b884b011fe8068_28 fill in the blank 0b884b011fe8068_29% fill in the blank 0b884b011fe8068_31 fill in the blank 0b884b011fe8068_32% fill in the blank 0b884b011fe8068_33 fill in the blank 0b884b011fe8068_34% fill in the blank 0b884b011fe8068_36 fill in the blank 0b884b011fe8068_37% fill in the blank 0b884b011fe8068_38 fill in the blank 0b884b011fe8068_39% $fill in the blank 0b884b011fe8068_41 fill in the blank 0b884b011fe8068_42% $fill in the blank 0b884b011fe8068_43 fill in the blank 0b884b011fe8068_44%
Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000 $440,000 Cost of goods sold 325,000 242,000 Selling expense 70,000 79,200 Administrative expenses 75,000 70,400 Income tax expense 10,500 16,400 Required: a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent. Young Technologies Inc. Comparative Income Statement For the Years Ended December 31, Year 2 and Year 1 Year 2 Amount Year 2 Percent Year 1 Amount Year 1 Percent $fill in the blank 0b884b011fe8068_2 fill in the blank 0b884b011fe8068_3% $fill in the blank 0b884b011fe8068_4 fill in the blank 0b884b011fe8068_5% fill in the blank 0b884b011fe8068_7 fill in the blank 0b884b011fe8068_8% fill in the blank 0b884b011fe8068_9 fill in the blank 0b884b011fe8068_10% $fill in the blank 0b884b011fe8068_12 fill in the blank 0b884b011fe8068_13% $fill in the blank 0b884b011fe8068_14 fill in the blank 0b884b011fe8068_15% fill in the blank 0b884b011fe8068_17 fill in the blank 0b884b011fe8068_18% fill in the blank 0b884b011fe8068_19 fill in the blank 0b884b011fe8068_20% fill in the blank 0b884b011fe8068_22 fill in the blank 0b884b011fe8068_23% fill in the blank 0b884b011fe8068_24 fill in the blank 0b884b011fe8068_25% Total expenses $fill in the blank 0b884b011fe8068_26 fill in the blank 0b884b011fe8068_27% $fill in the blank 0b884b011fe8068_28 fill in the blank 0b884b011fe8068_29% fill in the blank 0b884b011fe8068_31 fill in the blank 0b884b011fe8068_32% fill in the blank 0b884b011fe8068_33 fill in the blank 0b884b011fe8068_34% fill in the blank 0b884b011fe8068_36 fill in the blank 0b884b011fe8068_37% fill in the blank 0b884b011fe8068_38 fill in the blank 0b884b011fe8068_39% $fill in the blank 0b884b011fe8068_41 fill in the blank 0b884b011fe8068_42% $fill in the blank 0b884b011fe8068_43 fill in the blank 0b884b011fe8068_44%
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 39E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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Question
Revenue and expense data for Young Technologies Inc. are as follows:
Year 2 | Year 1 | |
Sales | $500,000 | $440,000 |
Cost of goods sold | 325,000 | 242,000 |
Selling expense | 70,000 | 79,200 |
Administrative expenses | 75,000 | 70,400 |
Income tax expense | 10,500 | 16,400 |
Required:
a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent.
Young Technologies Inc. | ||||
Comparative Income Statement | ||||
For the Years Ended December 31, Year 2 and Year 1 | ||||
Year 2 Amount | Year 2 Percent | Year 1 Amount | Year 1 Percent | |
$fill in the blank 0b884b011fe8068_2 | fill in the blank 0b884b011fe8068_3% | $fill in the blank 0b884b011fe8068_4 | fill in the blank 0b884b011fe8068_5% | |
fill in the blank 0b884b011fe8068_7 | fill in the blank 0b884b011fe8068_8% | fill in the blank 0b884b011fe8068_9 | fill in the blank 0b884b011fe8068_10% | |
$fill in the blank 0b884b011fe8068_12 | fill in the blank 0b884b011fe8068_13% | $fill in the blank 0b884b011fe8068_14 | fill in the blank 0b884b011fe8068_15% | |
fill in the blank 0b884b011fe8068_17 | fill in the blank 0b884b011fe8068_18% | fill in the blank 0b884b011fe8068_19 | fill in the blank 0b884b011fe8068_20% | |
fill in the blank 0b884b011fe8068_22 | fill in the blank 0b884b011fe8068_23% | fill in the blank 0b884b011fe8068_24 | fill in the blank 0b884b011fe8068_25% | |
Total expenses | $fill in the blank 0b884b011fe8068_26 | fill in the blank 0b884b011fe8068_27% | $fill in the blank 0b884b011fe8068_28 | fill in the blank 0b884b011fe8068_29% |
fill in the blank 0b884b011fe8068_31 | fill in the blank 0b884b011fe8068_32% | fill in the blank 0b884b011fe8068_33 | fill in the blank 0b884b011fe8068_34% | |
fill in the blank 0b884b011fe8068_36 | fill in the blank 0b884b011fe8068_37% | fill in the blank 0b884b011fe8068_38 | fill in the blank 0b884b011fe8068_39% | |
$fill in the blank 0b884b011fe8068_41 | fill in the blank 0b884b011fe8068_42% | $fill in the blank 0b884b011fe8068_43 | fill in the blank 0b884b011fe8068_44% |
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