Vertical AnalysisIncome statement information for Einsworth Corporation follows:Sales$376,000Cost of goods sold116,560Gross profit259,440Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers tothe nearest whole number.Einsworth CorporationVertical Analysis of the Income StatementSalesAmount Percentage$376,000%Cost of goods sold 116,560Gross profit$259,440%

Step 1: Find the percentage for sales Formula:Sales Percentage=Amount of SalesAmount of Sales×100…

Answered: Vertical Analysis Income statement…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.1E

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The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.
Last year, Nikkola Company had net sales of 2,299,500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average inventory. 2. Calculate the inventory turnover ratio. 3. Calculate the inventory turnover in days. 4. CONCEPTUAL CONNECTION Based on these ratios, does Nikkola appear to be performing well or poorly?
Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for Cuneo Company above. Required: 1. Prepare a common-size income statement for Year 1 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 2. Prepare a common-size income statement for Year 2 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 3. Prepare a common-size income statement for Year 3 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.)
Sundahl Companys income statements for the past 2 years are as follows: Refer to the information for Sundahl Company above. Required: 1. Prepare a common-size income statement for Year 1 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 2. Prepare a common-size income statement for Year 2 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.)
The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)
The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820. If August Sundries uses a multi-step income statement format, what is their gross margin?
Income statement information for Einsworth Corporation follows: Sales $442,000 Cost of goods sold 150,280 Gross profit 291,720 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $442,000 % Cost of goods sold 150,280 % Gross profit $291,720 %
Vertical Analysis Income statement information for Einsworth Corporation follows: Sales $276,000 Cost of goods sold 66,240 Gross profit 209,760 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth CorporationVertical Analysis of the Income Statement Amount Percentage Sales $276,000 fill in the blank % Cost of goods sold 66,240 fill in the blank % Gross profit $209,760 fill in the blank %
Income statement information for Einsworth Corporation follows: Sales $537,000 Cost of goods sold 177,210 Gross profit 359,790 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number.
Vertical Analysis Income statement information for Ivanoff Corporation follows: Sales $472,000 Cost of goods sold 146,320 Gross profit 325,680 Prepare a vertical analysis of the income statement for Ivanoff Corporation. If required, round percentage answers to the nearest whole number. Ivanoff CorporationVertical Analysis of the Income Statement Amount Percentage Sales $472,000 fill in the blank 1% Cost of goods sold 146,320 fill in the blank 2% Gross profit $325,680 fill in the blank 3%
Vertical Analysis Income statement information for Ivanoff Corporation follows: Sales $260,000 Cost of goods sold 80,600 Gross profit 179,400 Prepare a vertical analysis of the income statement for Ivanoff Corporation. If required, round percentage answers to the nearest whole number. Ivanoff Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $260,000 % Cost of goods sold 80,600 % Gross profit $179,400 %

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