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Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the following a) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts. b) to realize $1,200,000 without changing revenues and cost of goods sold. c) What could be the best scenario to achieve NI $1,200,000 A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 24 25 Revenue Expenses B C Income Statement Sales Sales Returns Sales Discounts Net Sales Puchases Purchase Returns Purchase Discounts Cost of Goods Sold Wage and Salary Exp Rent Expense Utilities Expense Office Supplies Exper Payroll Tax Expense Depreciation Bad Debt Expense Interest Expense Provision for income Total Expenses Net Income D -6174020.00 320280.00 59910.00 0.00 0.00 0.00 4205114.00 70878.00 122650.00 72820.00 35800.00 27135.25 11750.00 57938.30 5000.00 236928.89 E -5793830.00 4846014.44 -947815.56

Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the following a) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts. b) to realize $1,200,000 without changing revenues and cost of goods sold. c) What could be the best scenario to achieve NI $1,200,000 A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 24 25 Revenue Expenses B C Income Statement Sales Sales Returns Sales Discounts Net Sales Puchases Purchase Returns Purchase Discounts Cost of Goods Sold Wage and Salary Exp Rent Expense Utilities Expense Office Supplies Exper Payroll Tax Expense Depreciation Bad Debt Expense Interest Expense Provision for income Total Expenses Net Income D -6174020.00 320280.00 59910.00 0.00 0.00 0.00 4205114.00 70878.00 122650.00 72820.00 35800.00 27135.25 11750.00 57938.30 5000.00 236928.89 E -5793830.00 4846014.44 -947815.56

FINANCIAL ACCOUNTING
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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Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the following a) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts. b) to realize $1,200,000 without changing revenues and cost of goods sold. c) What could be the best scenario to achieve NI $1,200,000 A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 ܬ 24 25 Revenue Expenses B с Income Statement Sales Sales Returns Sales Discounts Net Sales Puchases Purchase Returns Purchase Discounts Cost of Goods Sold Wage and Salary Exp Rent Expense Utilities Expense Office Supplies Exper Payroll Tax Expense Depreciation Bad Debt Expense Interest Expense Provision for income Total Expenses Net Income D -6174020.00 320280.00 59910.00 0.00 0.00 0.00 4205114.00 70878.00 122650.00 72820.00 35800.00 27135.25 11750.00 57938.30 5000.00 236928.89 E -5793830.00 4846014.44 -947815.56
Transcribed Image Text:Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the following a) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts. b) to realize $1,200,000 without changing revenues and cost of goods sold. c) What could be the best scenario to achieve NI $1,200,000 A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 ܬ 24 25 Revenue Expenses B с Income Statement Sales Sales Returns Sales Discounts Net Sales Puchases Purchase Returns Purchase Discounts Cost of Goods Sold Wage and Salary Exp Rent Expense Utilities Expense Office Supplies Exper Payroll Tax Expense Depreciation Bad Debt Expense Interest Expense Provision for income Total Expenses Net Income D -6174020.00 320280.00 59910.00 0.00 0.00 0.00 4205114.00 70878.00 122650.00 72820.00 35800.00 27135.25 11750.00 57938.30 5000.00 236928.89 E -5793830.00 4846014.44 -947815.56
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