please make sure the answer is correct 100% PR 17-2A Vertical analysis of income statementFor 20Y2, Tri-Comic Company initiated a sales promotion campaign that includedthe expenditure of an additional $50,000 for advertising. At the end of the year, LumiNeer, the president, is presented with the following condensed comparative incomeOBJ. 2statement:(Continued) Tri-Comic CompanyComparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y120Y220Υ1Sales..$1,500,000$1,250,000510,000$ 990,000S 270,000Cost of merchandise sold..475,000$ 775,000$ 200,000156,250$ 356,250$ 418,750Gross profit..Selling expenses..Administrative expenses...Total operating expenses.Income from operations..180,000$ 450,000$ 540,000Other revenue....Income before income tax expense.60,00050,000$ 468,750375,000$ 93,750$ 600,000Income tax expense...450,000Net income...$ 150,000Instructions1. Prepare a comparative income statement for the two-year period, presenting an analysisof each item in relationship to sales for each of the years. Round percentages to onedecimal place.2.To the extent the data permit, comment on the significant relationshipsrevealed by the vertical analysis prepared in (1).

Vertical analysis of income statement computed the percentage of each element included in the…

Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales.. $1,500,000 $1,250,000 Cost of merchandise sold.. Gross profit... Selling expenses...... Administrative expenses.. 510,000 $ 990,000 $ 270,000 180,000 $ 450,000 $ 540,000 60,000 475,000 $ 775,000 $ 200,000 156,250 $ 356,250 $ 418,750 50,000 $ 468,750 375,000 $ 9,750 ........ ***. Total operating expenses... Income from operations... .... Other revenue... ... Income before income tax expense....... Income tax expense..... * $ 600,000 450,000 $ 150,000 Net income... Instructions 1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round percentages to one decimal place. 2. To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in (1).

Tri-Comic Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales.. $1,500,000 $1,250,000 Cost of merchandise sold.. Gross profit... Selling expenses...... Administrative expenses.. 510,000 $ 990,000 $ 270,000 180,000 $ 450,000 $ 540,000 60,000 475,000 $ 775,000 $ 200,000 156,250 $ 356,250 $ 418,750 50,000 $ 468,750 375,000 $ 9,750 ........ ***. Total operating expenses... Income from operations... .... Other revenue... ... Income before income tax expense....... Income tax expense..... * $ 600,000 450,000 $ 150,000 Net income... Instructions 1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round percentages to one decimal place. 2. To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in (1).

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
I need help with questions 1 and 2
it is still incorrect, please find correct answer
Assist
answer ed is coming back incorrect please help
Would you please provide the answer for #4 as well? Thank you!
Explain what is included in Form 10-Q and why is it needed.
It says the answer I type in the boxes are wrong. What is the correct solution.
Can you please solve questions 5-15 of the problem above. Thank you.
only answer d now please
How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.
PLEASE, WRITE THE SOLUTIONS ON PAPER, EXPLAINING THE ENTIRE PROCESS, THE ONLY AND CORRECT ANSWERS ARE FOR (i) V(t) = exp (-2e^0.02t + 2 ) for 0 15 (i) Derive, and simplify as far as possible, expressions in terms of t for V(t), where V(t) is the present value of a unit sum of cash flow made at time t. You should derive separate expressions for the three sub-intervals. (ii) Hence, making use of the result in part (i), calculate the value at time t = 3 of a payment of £2,500 made at time t = 15. (iii) Calculate, to the nearest 0.01%, the constant nominal annual rate of interest convertible half-yearly implied by the transaction in part (ii). (iv) Making use of the result in part (i), calculate the present value of a payment stream p(t) paid continuously from time t = 15 to t = 20 at a rate of payment at time t given by: p(t) = 300e 0.02t