The following data (in millions) are taken from the financial statements of Target Corporation:RecentYearPriorYear$71,27966,109$5,170$72,618RevenueOperating expensesOperating income68,083$ 4,535a. For Target Corporation, determine the amount of change in millions and the percentof change (round to one decimal place) from the prior year to the recent year for:1. Revenue2. Operating expenses3. Operating incomeb.What conclusions can you draw from your analysis of the revenue and thetotal operating expenses?

Answered: The following data (in millions) are…

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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Benson Company’s net income was $225,000 for Year 1, $243,750 for Year 2, and $293,160 for Year 3. Assume trend percentages for net income over the three-year period are computed, with Year 1 serving as the base year.The trend percentage for Year 3’s net income is: Select one: A. 117.30% B. 86.36% C. 120.92% D. 130.29%
Iacouva Company reported the following on the company’s income statement for two recent years: Please see the attachment for details: a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place.b. What conclusions can you draw?
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How do I calculae the times interest earned ratio?
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At the end of the current year, the entity reported the following financial data: Total Assets 1,200,000 Total assets turnover ratio 1.7x Fixed assets turnover ratio 2x Current ratio 2.5x Days Sales outstanding 30 days Inventory turnover ratio 4x Gross profit margin on sales 20% Note: Calcuation is based on a 365-day year. How much should be the accounts receivable balance?
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The following data (in millions) were taken from the financial statements of Costco Wholesale Corporation: Recent Year Prior Year Revenue $792,379 $721,000 Operating expenses 752,372 692,000 Operating income $40,007 $29,000 a. For Costco, determine the amount of change in millions and the percent of change from the prior year to the recent year for: Revenue Operating expenses Operating income (For those boxes in which you must enter negative numbers use a minus sign. Round percentage answers to one decimal place.) Amount of Change(in millions) Percent of Change(round to 1 decimal place) Increase or Decrease 1. Revenue $fill in the blank 1 fill in the blank 2% 2. Operating expenses $fill in the blank 4 fill in the blank 5% 3. Operating income $fill in the blank 7 fill in the blank 8% b. During the recent year, . c. The operating results of Target Corporation for the recent year are provided below. Amount of Change…
5 )
19. Using the following information, calculate the return on assets. Net income for November Total assets, November 1 5,000 76,000 Total assets, November 30 80,250 ... Identify the formula and then solve for return on assets (ROA). (Round the ROA to the nearest tenth percent, X.X%.) ÷ ROA %
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