S18-1 Horizontal analysis McCormick Ltd reported the following on its comparative income statement: (In millions) 2016 2015 2014 Revenue $9 575 $9 300 $8 975 Cost of sales 6 000 5 975 5 900 Requirement Prepare a horizontal analysis of revenues and gross profit–both in dollar amounts and in percentages-for 2016 and 2015.
Q: The trend analysis report of Poplar, Inc. is given below (in millions): 2019 2018 2017 2016 2015…
A: Using recently observed trend data, trend analysis is a technique in technical analysis that aims to…
Q: Six Flags Entertainment Corp. reported the following revenue data (in $000s) in its 2017 annual…
A: Trend Analysis -Trend Analysis helps organization to understand the growth of the organization. In…
Q: The 2017 annual report of Tootsie Roll Industries contains the following information. (in…
A: Since multiple subparts were posted, only the first three sub-parts will be answered.
Q: A firm has been experiencing low profitability in recent years. Perform an analysis of the firm's…
A: The different financial ratios used for the analysis of the company performance are divided…
Q: Refer to the following mentioned data. Net sales Cost of products sold Gross margin 2017 2016 2015…
A: Gross profit is the amount of money earned by the entity after deducting the cost of goods sold from…
Q: Express the following income statement information in common-size percents (round to nearest whole…
A: The common size income statement is prepared below. The waterfall chart requires data from year 2012…
Q: All sales were on credit. Net cash provided by operating activities for 2022 was $242,000. Capital…
A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…
Q: Performing horizontal analysis Verifine Corp reported the following on its comparative income…
A: Gross Profit = Revenue - Cost of Goods sold
Q: Common-Size Income Statements Consider the following income statement data from the Ross Company:…
A: Comparative balance sheet used to compare the financial statement of two or more periods. It is…
Q: Prepare the operating activities section of the statement of cash flows using the direct method.
A: The cash flow statement is a financial statement which shows the inflow and outflow of cash of the…
Q: Comparative income statement for Deep Sea Company for 2016 and 2015 are given below: Prepare the…
A: Part 2:Explanation:Step 1: Calculate Common Size Income Statement for 2016:- To calculate the common…
Q: Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative…
A: Trend Percentage: Trend percentages perform comparisons to a selected base year or timeframe, much…
Q: Sunland Manufacturing has provided the following comparative income statements for 2021 and 2022.…
A: Common Size Analysis is also known as Vertical analysis. Common Size analysis mainly refers to the…
Q: Complete the common-size income statement below: Common-Size Income Statement 2016 Revenues $ 29,970…
A: Formula: Formula: Revenues % = ( Revenues value / Revenues value ) x 100
Q: Consider the following income statement data from the Ross Company: 2013 2012 Sales revenue…
A: ROSS COMPANYCommon-Size Income Statements(Percent of Sales Revenue) 2013 2012 Sales revenue…
Q: Refer to the following mentioned data. Net sales Cost of products sold Gross margin 2017 2016 2015…
A: Gross Profit ratio :— It is calculated by dividing gross profit by sales. Gross profit = Net…
Q: Forecast an Income Statement Following is the income statement for Medtronic PLC for the year ended…
A: Income Statement forecast is one of the three financial statements for the business, it states the…
Q: Operating data for Indigo Corporation are as follows. Sales revenue Cost of goods sold Selling…
A: Comparative financial statements are used to compare two or more years to understand the financial…
Q: The statement of income for Pembina Ltd. is shown below: PEMBINA LTD. Statement of Income Year Ended…
A: Horizontal Analysis: It implies a technique of analyzing company's financial statements and helps…
Q: BE18-8 Vertical analysis (common size) percentages for Kochheim Company's sales revenue, cost of…
A: Net income = Sales revenue - Cost of goods sold - Expenses
Q: Refer to the following mentioned data. (In millions) 2017 2016 2015 Net sales $34,736 $30,142…
A: The gross profit ratio is one of the profitability ratios, which is obtained by deducting the cost…
Q: Horizontal Analysis of the Income Statement Income statement data for Boone Company for the years…
A: The statement of comprehensive income is the profit earned and loss incurred during the period…
Q: Zoobilee Inc. reported the following sales and net income amounts: (in thousands) 2020 2019 2018…
A: Trend analysis Trend analysis is one of the methods of analysis performed on financial statements…
Q: LaTanya Corporation is planning to issue $160,000, five-year, 6 percent bonds. Interest is payable…
A: Bonds/Notes are the instruments/ securities issued by the companies to raise funds for the company…
Q: Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales…
A: The income statement determines the net income of the business by subtracting the total expenses…
Q: A condensed income statement for Northeast Airlines and a partially completed vertical analysis are…
A: Income left to an entity after subtracting all the expenses from the revenue earned is called net…
Q: TRIXY MAGIC, INC. Consollidated Statements of Earnings (In millions) Fiscal Years Ended on Fiscal…
A: Net sales is taken as 100.00%.
Q: The trend analysis report of Poplar, Inc. is given below (in millions): Net income Trend percentages…
A: Income statement is referred to as the financial statement which represents the financial…
Q: Vertical Analysis 2020 2019 2018 Sales revenue 100.0% 100.0% 100.0% Cost of goods sold 60.0…
A: Net income= Sales revenue- cost of good sold-expense. 2020 2019 2018 Sales 100% 100% 100%…
Q: Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative…
A: Comparative financial statements are statements that are prepared for more than a year and the first…
Q: Prepare a horizontal analysis of the following excerpt of an income statement. Eye Witness Security…
A: The objective of this question is to perform a horizontal analysis of the income statement of Eye…
Q: The income statement of a corporation shows the following balance in Sales Revenue for the years…
A: Horizontal analysis is prepared to calculate the variance from previous year by showing…
Q: 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as base…
A: A financial statement that depicts an organization's financial situation at a certain period in…
Q: Compute each year’s current ratio, debt-to-equity ratio, profit margin, return on total assets.…
A: “Since you have posted a question with multiple sub-parts, we will be solving only the first 3…
Q: Use the following tables to answer the question: LOGIC COMPANY Income Statement For years ended…
A: Given the following information:
Q: Here are the comparative income statements of Cullumber Corporation. CULLUMBER CORPORATION…
A: Formula: Increase or decrease = Value of 2022 - value of 2021.
Q: Horizontal analysis (trend analysis) percentages for Pharoah Company's sales, cost of goods sold,…
A: Net Income: It refers to the amount of money that is earned by the business after deducting or…
Q: Problem 13-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following…
A: 2. A common size income statement is an income statement where each line item of the income…
Q: S18-4 Common-size income statement Data for Muller Pty Ltd and Rose Pty Ltd follow: Muller Rose $10…
A: A common size income statement is that statement in which the figures of Revenue from Operation…
Q: CONCORD, INC. Income Statement For the Year Ended December 31, 2026 Net Sales $145 Cost of Goods…
A: The gross profit is calculated as difference between sales and cost of goods sold. The gross profit…
Q: Cochran corporation, Inc. has the following income statement: Cochran corporation, Inc. Income…
A: Formula: Percentage assigned to operating expenses = ( Operating expenses / Net sales ) x 100
Q: Manero Company included the following information in its annual report: 2018 2017 Sales Cost of…
A: Income statement is a financial statement that shows profitability, total revenue and total…
Q: Condensed financial statements for Games Galore are summarized below: Balance Sheet Cash Accounts…
A: The time's interest earned ratio is generally evaluated by the lender while extending credit to the…
Q: Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total…
A: To compute the profit margin and return on total assets, we'll use the following formulas:(a) Profit…
Q: Here are the comparative condensed income statements of Concord Corporation. Concord Corporation…
A: Income statement is the financial statement prepared by an entity for the purpose of determining the…
Q: Performing horizontal analysis—income statement Data for Mulberry Designs, Inc. follow: Requirements…
A:
![S18-1 Horizontal analysis
McCormick Ltd reported the following on its comparative income statement:
(In millions)
2016
2015
2014
Revenue
$9 575
$9 300
$8 975
Cost of sales
6 000
5 975
5 900
Requirement
Prepare a horizontal analysis of revenues and gross profit-both in dollar amounts and in
percentages-for 2016 and 2015.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9d6686f0-24e3-43de-bc21-a827730605bb%2F74b26f56-9366-426f-a014-53b8491ca5ac%2F1a8wdbv_processed.png&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- Problem 17-2A Ratios, common-size statements, and trend percents LO P1, P2, P3 [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 $ 396,891 238,928 157,963 56,359 $ 304,051 191,248 112,803 41,959 26,756 $ 211,000 135,040 75,960 27,852 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses 35,720 92,079 65,884 12,254 17,513 45,365 30,595 Total expenses 68,715 44,088 9,038 Income before taxes Income taxes 6,211 Net income $ 53,630 $ 35,050 $ 24,384 KORBIΝ COMPΑNY Comparative Balance Sheets December 31, 2017, 2016, and 2015 2017 2016 2015 Assets $ 49,213 $ 38,503 1,200 95,481 Current assets $ 51,470 Long-term investments 4,100 90,003 $ 139,216 56,430 $ 112,000 Plant assets, net Total assets $ 135,184 Liabilities and Equity $ 20,326 67,000 8,375 43,515 20,142 67,000 8,375…Q4. Comparative financial statement data of Field, Inc., follow: FIELD, INC. Comparative Income Statement Years Ended December 31, 2016 and 2015 VERTICAL HORIZONTAL Increase (Decrease) Amount Percent Net sales (all sales on credit) Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income Current assets: Cash Current receivables Inventories Prepaid expenses Total current assets Property, plant, and equipment, net Total assets Total current liabilities Long-term liabilities Total liabilities Capital Total liabilities and equity 2016 $ 500,000 250,000 $ 250,000 140,000 $ 110,000 10,000 $ 100,000 30,000 $ 70,000 2015 $ 400,000 150,000 $ 250,000 100,000 $ 150,000 2016 20,000 $ 130,000 50,000 $ 80,000 FIELD, INC. Comparative Balance Sheet December 31, 2016 and 2015 HORIZONTAL VERTICAL 2015 2016 2015 Percent Percent $ 88,000 121,000 158,000 Increase (Decrease) 2016 2015 Amount Percent Percent Percent $…Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31. 2020 $ 487,179 $ 373,219 2021 293,282 236,621 193,897 69,179 43,846 113,025 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets 84,347 80,872 52,251 15,042 10,711 $ 65,830 $ 41,540 KORBIN COMPANY Comparative Balance Sheets December 31 Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities. Common stock Other paid-in capital Retained earnings Total liabilities and equity 136,598 51,504 32,843 2021 2020 2019 $ 259,000 165,760 93,240 34,188 21,497 55,685 37,555 7,624 $ 29,931 $ 64,678 116,492 0 $ 43,289 900 106,308 $ 181,170 $ 150,497 $ 26,451 66,000 8,250 80,469 $ 22,424 66,000 8,250 53,823 $ 181,170 $ 150,497 2019 $ 57,867 4,860 61,960 $ 124,687 $ 21,820 48,000 5,333 49,534 $ 124,687
- Data for Sherman, Inc. are as follows: Net Sales Cost of Goode Sold Selling and Administrative Expenses Other Expenses Income Tax 2017 $850,000 635,000 50,000 20,000 40,000 Use the editor to format your answer 2016 $798,000 580,000 35,000 15,000 55,000 Prepare a horizontal analysis of the comparative income statement of Sherman, Inc. (Round to one decimal place.) Use a multi-step income statement.The Cullumber Supply Company reported the following information for 2017. Prepare a common-size income statement for the year ended June 30, 2017. (Round answers to 1 decimal place, e.g. 52.7%.) Cullumber Supply CompanyIncome Statement for the Fiscal Year Ended June 30, 2017($ thousands) % of Net Sales Net sales $2,111,000 enter percentages of net sales % Cost of goods sold 1,464,000 enter percentages of net sales % Selling and administrative expenses 312,200 enter percentages of net sales % Nonrecurring expenses 27,600 enter percentages of net sales % Earnings before interest, taxes, depreciation, and amortization (EBITDA) $307,200 enter percentages of net sales % Depreciation 117,000 enter percentages of net sales % Earnings before interest and taxes (EBIT) 190,200 enter percentages of net sales % Interest expense 118,600 enter percentages of net sales % Earnings before taxes (EBT)…Vertical Analysis of Income Statement Revenue and expense data for Rogan Technologies Co. are as follows: 20Y8 20Υ7 Sales $572,000 $503,000 Cost of goods sold 366,080 286,710 Selling expenses 80,080 85,510 Administrative expenses 91,520 100,600 Income tax expense 17,160 10,060 a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 20Y7 as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as a positive number. Rogan Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 20Y7 20Y8 Amount 20Y8 Percent 20Y7 Amount 20Y7 Percent % % % % Gross profit % % % Total operating expenses % % % Net income
- Using the following selected items from the comparative balance sheet of Oriole Products.Determine the horizontal analysis. (Round percentages to 2 decimal places, e.g. 12.21%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) ORIOLEPRODUCTSComparative Balance SheetDecember 31 2014 2013 Horizontal analysis Amount Percentage Amount Percentage Current assets $110,880 enter percentages % $128,216 enter percentages % Long-term assets 174,240 enter percentages % 117,304 enter percentages % Total assets 3,168,000 enter percentages % 2,728,000 enter percentages % Determine the vertical analysis. (Round percentages to 1 decimal place, e.g. 12.2%.) ORIOLEPRODUCTSComparative Balance SheetDecember 31 2014 2013 Vertical analysis Amount Percentage Amount Percentage Current assets $110,880…Comparative Income Statements Consider the following income statement data from the Mono Company: Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense 2019 2018 $600,000 $450,000 336,000 279,000 105,000 99,000 60,000 50,000 4,000 3,000 Prepare a contparative income statement, showing increases, and decreases in dollars and in percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). Sales Revenue Cost of Goods Sold MONO COMPANY Comparative Income Statements ♦ Selling Expenses Administrative Expenses Total Income before Income Taxes ◆ → $ $ 2019 0 $ 0 0 0 0 oooo 0 0 $ 2018 Increase (Decrease) 0 $ 0 0 0 0 0 0 0 0 $ 0 0 0 0 0 0 0 0 0 Percent Change 0% 0% 0% 0% 0% 0% 0% 0% 0 %Current Attempt in Progress Here are the comparative income statements of Oriole Corporation. ORIOLE CORPORATIONComparative Income StatementFor the Years Ended December 31 2022 2021 Net sales $632,300 $544,800 Cost of goods sold 456,600 415,500 Gross Profit 175,700 129,300 Operating expenses 74,100 44,500 Net income $ 101,600 $ 84,800 (a)Prepare a horizontal analysis of the income statement data for Oriole Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) ORIOLE CORPORATIONComparative Income Statementchoose the accounting period For the Years Ended December 31For the Month Ended December 31December 31 Increase or (Decrease) During 2022 2022 2021…
- LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2017 and 2018 2018 2017 Gross sales $ 22,800 $ 17,850 Sales returns and allowances 900 100 Net sales $ 21,900 $ 17,750 Cost of merchandise (goods) sold 11,050 7,700 Gross profit $ 10,850 $ 10,050 Operating expenses: Depreciation $ 1,080 $ 790 Selling and administrative 5,050 3,900 Research 930 690 Miscellaneous 740 490 Total operating expenses $ 7,800 $ 5,870 Income before interest and taxes $ 3,050 $ 4,180 Interest expense 940 690 Income before taxes $ 2,110 $ 3,490 Provision for taxes 844 1,396 Net income $ 1,266 $ 2,094 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 Assets Current assets: Cash $ 11,800…Operating data for Sheridan Corporation are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense $ 2027 Prepare a schedule showing a vertical analysis for 2027 and 2026. (Round percentages to 1 decimal place, e.g. 12.1%.) Net income $ $842,800 530,964 126,420 80,066 37,926 67,424 2026 Amount $645,500 413,120 77,460 50,349 25,820 78,751 2027 SHERIDAN CORPORATION Condensed Income Statements For the Years Ended December 31 Percent % % % % % % % % $ % $ Amount 2026 Percent Ih SUPPThe following balances were reported in the financial statements for Ruby Company. 2016 2015 Net Sales $1,650,000 $1,750,000 Net Income 170,000 205,000 Current Assets 410,000 535,000 Current Liabilities 170,000 210,000 Total Liabilities 500,000 675,000 Total Assets 1,550,000 2,450,000 Required: 1. Compute the following ratios for 2016 and 2015 for Ruby Company. a. Return on sales ratio b. Current ratio c. Debt-to-total-assets ratio
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)