Vertical Analysis 2020 2019 2018 Sales revenue 100.0% 100.0% 100.0% Cost of goods sold 60.0 63.9 65.0 Expenses 26.0 26.6 27.5
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Vertical analysis (common-size) percentages for Baker Company’s sales revenue, cost of goods sold, and expenses are as follows. Did Baker’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer.
|
Vertical Analysis |
2020 |
2019 |
2018 |
|
Sales revenue |
100.0% |
100.0% |
100.0% |
|
Cost of goods sold |
60.0 |
63.9 |
65.0 |
|
Expenses |
26.0 |
26.6 |
27.5 |
Net income= Sales revenue- cost of good sold-expense.
| 2020 | 2019 | 2018 | |
| Sales | 100% | 100% | 100% |
| Less COGS | 60% | 63.9% | 65% |
| Less Expenses | 26% | 26.6% | 27.5% |
| Net Income | 14.00% | 9.50% | 7.50% |
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- Please assist Calculate the percentage increase/decrease in cost of sales from 2018 to 2019.Prepare a horizontal analysis of the following comparative income statement for the Buff Bodies Corporation. Round percentage changes to the nearest one-hundredth percent. Buff Bodies Corporation Comparative Income Statement for the Years Ended December 31, 2020 and 2019 2020 2019 Total revenue $1,450,000 $1,300,000 Expenses: Cost of goods sold $ 1,023,000 $ 930,000 Operating expenses 310,000 275,000 Interest expense 12,000 10,000 Income tax expense 48,300 38,000 Total expenses $1,393,300 $1,253,000 Net income $ 56,700 $ 47,000Multi step format: Income Statement Company Name For the Time Period Ending Date Net sales - Cost of goods sold Gross profit - Operating expenses Operating profit - Interest expense Profit before taxes - Taxes Net income Net sales = Gross sales - (Returns and Allowances) Cost of goods sold = Beginning inventory + Materials purchases - Ending inventory In 2020, a hardware retail company-Home hardware sold 1,500 units of its product at an average price of 400 per unit. The company reported estimated Returns and allowances in 2020 of 200,000. Home hardware purchased 11,000 units of its product from its manufacturer at an average cost of 300 per unit. Home hardware began with 900 units of its product in inventory (carried at an average cost of 300 per unit). Operating expenses for Home hardware, Inc. in 2020 were 400,000. Home hardware had 2,000,000 loan from local bank. This loan carried an average interest rate of 10 percent. Finally, Home hardware’s tax rate was 40 percent. Home…
