The following financial statements are taken from the records of Organo Inc. a) Use horizontal analysis techniques to compare the changes between 2023 and 2022 balance sheet items. Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Round all percentages to 2 decimal places. Organo Inc. Balance Sheet As at May 31 2023 2022 $ Change % Change Current Assets Cash $308,000 $315,100 $Answer Answer % Accounts Receivable $148,000 $192,800 $Answer Answer % Merchandise Inventory $362,700 $393,500 $Answer Answer % Short-Term Investments $136,200 $115,100 $Answer Answer % Total Current Assets $954,900 $1,016,500 $Answer Answer % Long-Term Assets $227,800 $314,300 $Answer Answer % Total Assets $1,182,700 $1,330,800 $Answer Answer % Current Liabilities $293,000 $262,200 $Answer Answer % Long-Term Liabilities $147,000 $111,300 $Answer Answer % Total Liabilities $440,000 $373,500 $Answer Answer % Shareholders Equity $742,700 $957,300 $Answer Answer % Total Liabilities and Equity $1,182,700 $1,330,800 $Answer Answer % b) Perform a vertical analysis of the income statement for 2023, stating all income statement items as a percentage of sales. Organo Inc. Income Statement For the Year Ended December 31 2023 Sales $694,000 Answer % Cost of Goods Sold $242,900 Answer % Gross Profit $451,100 Answer % Operating Expenses Advertising Expense $3,800 Answer % Utilities Expense $7,100 Answer % Rent Expense $5,400 Answer % Salaries and Wages Expense $49,200 Answer % Depreciation Expense $34,700 Answer % Interest Expense $8,200 Answer % Total Expenses $108,400 Answer % Income Before Income Tax $342,700 Answer % Income Tax Expense $102,810 Answer % Net Income $239,890 Answer %

Operations Management

The following financial statements are taken from the records of Organo Inc. a) Use horizontal analysis techniques to compare the changes between 2023 and 2022 balance sheet items. Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Round all percentages to 2 decimal places. Organo Inc. Balance Sheet As at May 31 2023 2022 $ Change % Change Current Assets Cash $308,000 $315,100 $Answer Answer % Accounts Receivable $148,000 $192,800 $Answer Answer % Merchandise Inventory $362,700 $393,500 $Answer Answer % Short-Term Investments $136,200 $115,100 $Answer Answer % Total Current Assets $954,900 $1,016,500 $Answer Answer % Long-Term Assets $227,800 $314,300 $Answer Answer % Total Assets $1,182,700 $1,330,800 $Answer Answer % Current Liabilities $293,000 $262,200 $Answer Answer % Long-Term Liabilities $147,000 $111,300 $Answer Answer % Total Liabilities $440,000 $373,500 $Answer Answer % Shareholders Equity $742,700 $957,300 $Answer Answer % Total Liabilities and Equity $1,182,700 $1,330,800 $Answer Answer % b) Perform a vertical analysis of the income statement for 2023, stating all income statement items as a percentage of sales. Organo Inc. Income Statement For the Year Ended December 31 2023 Sales $694,000 Answer % Cost of Goods Sold $242,900 Answer % Gross Profit $451,100 Answer % Operating Expenses Advertising Expense $3,800 Answer % Utilities Expense $7,100 Answer % Rent Expense $5,400 Answer % Salaries and Wages Expense $49,200 Answer % Depreciation Expense $34,700 Answer % Interest Expense $8,200 Answer % Total Expenses $108,400 Answer % Income Before Income Tax $342,700 Answer % Income Tax Expense $102,810 Answer % Net Income $239,890 Answer %

The following financial statements are taken from the records of Organo Inc. a) Use horizontal analysis techniques to compare the changes between 2023 and 2022 balance sheet items. Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Round all percentages to 2 decimal places. Organo Inc. Balance Sheet As at May 31 2023 2022 $ Change % Change Current Assets Cash $308,000 $315,100 $Answer Answer % Accounts Receivable $148,000 $192,800 $Answer Answer % Merchandise Inventory $362,700 $393,500 $Answer Answer % Short-Term Investments $136,200 $115,100 $Answer Answer % Total Current Assets $954,900 $1,016,500 $Answer Answer % Long-Term Assets $227,800 $314,300 $Answer Answer % Total Assets $1,182,700 $1,330,800 $Answer Answer % Current Liabilities $293,000 $262,200 $Answer Answer % Long-Term Liabilities $147,000 $111,300 $Answer Answer % Total Liabilities $440,000 $373,500 $Answer Answer % Shareholders Equity $742,700 $957,300 $Answer Answer % Total Liabilities and Equity $1,182,700 $1,330,800 $Answer Answer % b) Perform a vertical analysis of the income statement for 2023, stating all income statement items as a percentage of sales. Organo Inc. Income Statement For the Year Ended December 31 2023 Sales $694,000 Answer % Cost of Goods Sold $242,900 Answer % Gross Profit $451,100 Answer % Operating Expenses Advertising Expense $3,800 Answer % Utilities Expense $7,100 Answer % Rent Expense $5,400 Answer % Salaries and Wages Expense $49,200 Answer % Depreciation Expense $34,700 Answer % Interest Expense $8,200 Answer % Total Expenses $108,400 Answer % Income Before Income Tax $342,700 Answer % Income Tax Expense $102,810 Answer % Net Income $239,890 Answer %

Practical Management Science

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Related questions

Concept explainers

Question

The following financial statements are taken from the records of Organo Inc. a) Use horizontal analysis techniques to compare the changes between 2023 and 2022 balance sheet items. Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Round all percentages to 2 decimal places. Organo Inc. Balance Sheet As at May 31 2023 2022 $ Change % Change Current Assets Cash $308,000 $315,100 $Answer Answer % Accounts Receivable $148,000 $192,800 $Answer Answer % Merchandise Inventory $362,700 $393,500 $Answer Answer % Short-Term Investments $136,200 $115,100 $Answer Answer % Total Current Assets $954,900 $1,016,500 $Answer Answer % Long-Term Assets $227,800 $314,300 $Answer Answer % Total Assets $1,182,700 $1,330,800 $Answer Answer % Current Liabilities $293,000 $262,200 $Answer Answer % Long-Term Liabilities $147,000 $111,300 $Answer Answer % Total Liabilities $440,000 $373,500 $Answer Answer % Shareholders Equity $742,700 $957,300 $Answer Answer % Total Liabilities and Equity $1,182,700 $1,330,800 $Answer Answer % b) Perform a vertical analysis of the income statement for 2023, stating all income statement items as a percentage of sales. Organo Inc. Income Statement For the Year Ended December 31 2023 Sales $694,000 Answer % Cost of Goods Sold $242,900 Answer % Gross Profit $451,100 Answer % Operating Expenses Advertising Expense $3,800 Answer % Utilities Expense $7,100 Answer % Rent Expense $5,400 Answer % Salaries and Wages Expense $49,200 Answer % Depreciation Expense $34,700 Answer % Interest Expense $8,200 Answer % Total Expenses $108,400 Answer % Income Before Income Tax $342,700 Answer % Income Tax Expense $102,810 Answer % Net Income $239,890 Answer %

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Blurred answer

Knowledge Booster

Financial statements

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.

Similar questions

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

Operations Management

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

Operations Management

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS