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The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 9%) Common stock ($5 par value, 5,480 shares outstanding) Retained earnings Total liabilities and stockholders' equity Year 2 Year 1 $ 190,500 112,300 78,200 $ 168,900 67,600 101,300 57,200 54,200 21,000 13,400 6,300 4,020 $ 14,700 $ 5,400 15,100 40,900 $9,388 $ 6,800 16,900 33,700 45,700 36,700 $ 94,100 $ 107,100 $14,200 44,100 27,000 $ 15,200 44,100 27,000 21,800 7,800 $ 107,100 $ 94,100 P13-5 Part 1 Required: 1. Complete the following columns for each item in the preceding comparative financial statements: Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Complete the following columns for each item in the preceding comparative financial statements: Note; Enter your percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign. CHINOOK COMPANY Balance Sheet Increase (Decrease) from Year 1 to Year 2 Amount Percent Cash Accounts receivable (net) Inventory % % % Property and equipment (net) Total Assets Current liabilities (no interest) % $ % % Long-term liabilities (interest rate: 9%) % Common stock ($5 par value, 5,400 shares outstanding) Retained earnings % % Total liabilities and stockholders' equity $ % < Income Statement Balance Sheet >

The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 9%) Common stock ($5 par value, 5,480 shares outstanding) Retained earnings Total liabilities and stockholders' equity Year 2 Year 1 $ 190,500 112,300 78,200 $ 168,900 67,600 101,300 57,200 54,200 21,000 13,400 6,300 4,020 $ 14,700 $ 5,400 15,100 40,900 $9,388 $ 6,800 16,900 33,700 45,700 36,700 $ 94,100 $ 107,100 $14,200 44,100 27,000 $ 15,200 44,100 27,000 21,800 7,800 $ 107,100 $ 94,100 P13-5 Part 1 Required: 1. Complete the following columns for each item in the preceding comparative financial statements: Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Complete the following columns for each item in the preceding comparative financial statements: Note; Enter your percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign. CHINOOK COMPANY Balance Sheet Increase (Decrease) from Year 1 to Year 2 Amount Percent Cash Accounts receivable (net) Inventory % % % Property and equipment (net) Total Assets Current liabilities (no interest) % $ % % Long-term liabilities (interest rate: 9%) % Common stock ($5 par value, 5,400 shares outstanding) Retained earnings % % Total liabilities and stockholders' equity $ % < Income Statement Balance Sheet >

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4PB
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The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 9%) Common stock ($5 par value, 5,480 shares outstanding) Retained earnings Total liabilities and stockholders' equity Year 2 Year 1 $ 190,500 112,300 78,200 $ 168,900 67,600 101,300 57,200 54,200 21,000 13,400 6,300 4,020 $ 14,700 $ 5,400 15,100 40,900 $9,388 $ 6,800 16,900 33,700 45,700 36,700 $ 94,100 $ 107,100 $14,200 44,100 27,000 $ 15,200 44,100 27,000 21,800 7,800 $ 107,100 $ 94,100 P13-5 Part 1 Required: 1. Complete the following columns for each item in the preceding comparative financial statements: Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Complete the following columns for each item in the preceding comparative financial statements: Note; Enter your percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign. CHINOOK COMPANY Balance Sheet Increase (Decrease) from Year 1 to Year 2 Amount Percent Cash Accounts receivable (net) Inventory % % % Property and equipment (net) Total Assets Current liabilities (no interest) % $ % % Long-term liabilities (interest rate: 9%) % Common stock ($5 par value, 5,400 shares outstanding) Retained earnings % % Total liabilities and stockholders' equity $ % < Income Statement Balance Sheet >
Transcribed Image Text:The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net income Balance sheet Cash Accounts receivable (net) Inventory Property and equipment (net) Total assets Current liabilities (no interest) Long-term liabilities (interest rate: 9%) Common stock ($5 par value, 5,480 shares outstanding) Retained earnings Total liabilities and stockholders' equity Year 2 Year 1 $ 190,500 112,300 78,200 $ 168,900 67,600 101,300 57,200 54,200 21,000 13,400 6,300 4,020 $ 14,700 $ 5,400 15,100 40,900 $9,388 $ 6,800 16,900 33,700 45,700 36,700 $ 94,100 $ 107,100 $14,200 44,100 27,000 $ 15,200 44,100 27,000 21,800 7,800 $ 107,100 $ 94,100 P13-5 Part 1 Required: 1. Complete the following columns for each item in the preceding comparative financial statements: Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Complete the following columns for each item in the preceding comparative financial statements: Note; Enter your percentage answers rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34). Decreases should be indicated by a minus sign. CHINOOK COMPANY Balance Sheet Increase (Decrease) from Year 1 to Year 2 Amount Percent Cash Accounts receivable (net) Inventory % % % Property and equipment (net) Total Assets Current liabilities (no interest) % $ % % Long-term liabilities (interest rate: 9%) % Common stock ($5 par value, 5,400 shares outstanding) Retained earnings % % Total liabilities and stockholders' equity $ % < Income Statement Balance Sheet >
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