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 >
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter17: Financial Statement Analysis
Section17.4: Analyzing Financial Statements Using Financial Ratios
Problem 1WT
Related questions
Question
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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