Homework Help is Here – Start Your Trial Now!
Business
Accounting
Selected comparative financial statements of Telecom Company follow: Required: 1. Express the income statement data in Trend percentage with 2015 as the base year 2. Express the balance sheet data in Common-Size percentage 3. Compute each year's Quick ratio, Debt ratio, Profit margin ratio, Return on Assets. ( 4. Analyse and comment on any significant relations revealed by the percents and ratios computed. Telecom Company Comparative Balance Sheets December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current Assets Long-Term Investments Plant Assets, Net Total Assets $33,660 2700 114,660 $151,020 $37,300 11,600 80,000 $128.900 $55,860 113.810 $169.670 Liabilities & Equity Current Liabilities Common stock Other contributed capital Retained earnings Total Liabilities and equity $ 23,370 47,500 14,850 83,950 $169,670 $ 20,180 47,500 14,850 68,490 $151,020 $ 17,500 38,000 12,300 61,100 $128,900 Telecom Company Comparative income statements For the year ended December 31, 2017, 2016 and 2015 2017 2016 2015 $167,000 87,175 79,825 20,790 15,610 36,400 43,425 4,910 $38,515 Sales Cost of goods sold Gross profit Selling Expenses Administrative expenses Total expenses Income before taxes Income taxes $199,800 109,890 89,910 23,680 17.760 41,440 48,470 5,050 $43,420 $144,800 67,200 77,600 19,000 16,700 35,700 41,900 4,300 $37,600 Net income

Selected comparative financial statements of Telecom Company follow: Required: 1. Express the income statement data in Trend percentage with 2015 as the base year 2. Express the balance sheet data in Common-Size percentage 3. Compute each year's Quick ratio, Debt ratio, Profit margin ratio, Return on Assets. ( 4. Analyse and comment on any significant relations revealed by the percents and ratios computed. Telecom Company Comparative Balance Sheets December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current Assets Long-Term Investments Plant Assets, Net Total Assets $33,660 2700 114,660 $151,020 $37,300 11,600 80,000 $128.900 $55,860 113.810 $169.670 Liabilities & Equity Current Liabilities Common stock Other contributed capital Retained earnings Total Liabilities and equity $ 23,370 47,500 14,850 83,950 $169,670 $ 20,180 47,500 14,850 68,490 $151,020 $ 17,500 38,000 12,300 61,100 $128,900 Telecom Company Comparative income statements For the year ended December 31, 2017, 2016 and 2015 2017 2016 2015 $167,000 87,175 79,825 20,790 15,610 36,400 43,425 4,910 $38,515 Sales Cost of goods sold Gross profit Selling Expenses Administrative expenses Total expenses Income before taxes Income taxes $199,800 109,890 89,910 23,680 17.760 41,440 48,470 5,050 $43,420 $144,800 67,200 77,600 19,000 16,700 35,700 41,900 4,300 $37,600 Net income

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

Must solve it please.

Selected comparative financial statements of Telecom Company follow: Required: 1. Express the income statement data in Trend percentage with 2015 as the base year 2. Express the balance sheet data in Common-Size percentage 3. Compute each year's Quick ratio, Debt ratio, Profit margin ratio, Return on Assets. ( 4. Analyse and comment on any significant relations revealed by the percents and ratios computed. Telecom Company Comparative Balance Sheets December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current Assets Long-Term Investments Plant Assets, Net Total Assets $33,660 2700 114,660 $151,020 $37,300 11,600 80,000 $128.900 $55,860 113.810 $169.670 Liabilities & Equity Current Liabilities Common stock Other contributed capital Retained earnings Total Liabilities and equity $ 23,370 47,500 14,850 83,950 $169,670 $ 20,180 47,500 14,850 68,490 $151,020 $ 17,500 38,000 12,300 61,100 $128,900 Telecom Company Comparative income statements For the year ended December 31, 2017, 2016 and 2015 2017 2016 2015 $167,000 87,175 79,825 20,790 15,610 36,400 43,425 4,910 $38,515 Sales Cost of goods sold Gross profit Selling Expenses Administrative expenses Total expenses Income before taxes Income taxes $199,800 109,890 89,910 23,680 17.760 41,440 48,470 5,050 $43,420 $144,800 67,200 77,600 19,000 16,700 35,700 41,900 4,300 $37,600 Net income
Transcribed Image Text:Selected comparative financial statements of Telecom Company follow: Required: 1. Express the income statement data in Trend percentage with 2015 as the base year 2. Express the balance sheet data in Common-Size percentage 3. Compute each year's Quick ratio, Debt ratio, Profit margin ratio, Return on Assets. ( 4. Analyse and comment on any significant relations revealed by the percents and ratios computed. Telecom Company Comparative Balance Sheets December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current Assets Long-Term Investments Plant Assets, Net Total Assets $33,660 2700 114,660 $151,020 $37,300 11,600 80,000 $128.900 $55,860 113.810 $169.670 Liabilities & Equity Current Liabilities Common stock Other contributed capital Retained earnings Total Liabilities and equity $ 23,370 47,500 14,850 83,950 $169,670 $ 20,180 47,500 14,850 68,490 $151,020 $ 17,500 38,000 12,300 61,100 $128,900 Telecom Company Comparative income statements For the year ended December 31, 2017, 2016 and 2015 2017 2016 2015 $167,000 87,175 79,825 20,790 15,610 36,400 43,425 4,910 $38,515 Sales Cost of goods sold Gross profit Selling Expenses Administrative expenses Total expenses Income before taxes Income taxes $199,800 109,890 89,910 23,680 17.760 41,440 48,470 5,050 $43,420 $144,800 67,200 77,600 19,000 16,700 35,700 41,900 4,300 $37,600 Net income
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 6 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Market Efficiency
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
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS