Review the following Income Statements for 2020 and 2021. Describe at least three possible reasons for the changes that occurred in 2021. Be creative! Service Revenue Operating Expenses: Salaries Expense Rent Expense Total Expenses Net Income Daisy Mae Company Income Statement 2021 $50,000 15,000 5,000 20,000 $30,000 2020 $25,000 10,000 5,000 15,000 $10,000

Review the following Income Statements for 2020 and 2021. Describe at least three possible reasons for the changes that occurred in 2021. Be creative! Service Revenue Operating Expenses: Salaries Expense Rent Expense Total Expenses Net Income Daisy Mae Company Income Statement 2021 $50,000 15,000 5,000 20,000 $30,000 2020 $25,000 10,000 5,000 15,000 $10,000

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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Please help me to answer Requirement 1A & 1C only. Thank you!
Use historic growth in total revenues from 2017 to 2017 to show the total revenue for 2019. Use historic rate of the total cost of revenue to total revenue to show total cost of revenue.
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(Profitability Ratio)What is the Net Profit Margin Ratio in 2020?
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need help preparing an statement table The following information relates to Oriole Co. for the year 2020. Owner’s capital, January 1, 2020 $53,827 Advertising expense $ 2,019 Owner’s drawings during 2020 6,728 Rent expense 11,663 Service revenue 71,321 Utilities expense 3,476 Salaries and wages expense 33,081
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The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000 , Cost of Sales: 776,000 Gross Profit: 474,000 . The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The increase ( decrease ) in net sales due to volume factor must be A.(194,000) B. 194,000 C . (312500) D. 312500