The comparative financial statements of Seward, Inc. include the following data:Current YearPrior YearIncome StatementNet Sales Revenue$142,000$112,000Cost of Goods Sold61,00053,000Operating ExpensesInterest Expense40, 20033,2004,7004,700Income Tax Expense6, 20029,9005,200Net Income15,900Balance SheetCurrent Assets127,000107,000Plant, Property and Equipment, NetCurrent Liabilities110,000117,00051,00044,00049,000131,000224,00049,000Long-Term LiabilitiesShareholders' EquityTotal Liabilities & Shareholders' Equity137,000237,000Which of the following would be shown on Seward's horizontal analysis when calculating percentage changes from tcurrent year?Multiple Choice Save & ExrtSubmWhich of the following would be shown on Seward's horizontal analysis when calculating percentage changes from the prior year to thecurrent year?Multiple ChoiceAn increase in interest expense of 34.5%.An increase in net income of 35.1%.An increase in gross profit of 37.3%.An increase in sales revenue of 33.9%.< Prev.26 of 50Next >

Change in Current Year from Prior Year = (Current Year Amount / Prior Year Amount) - 1 Change in Net…

Answered: Which of the following would be shown…

Which of the following would be shown on Seward's horizontal analysis when calculating percentage changes from current year?

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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Question

The comparative financial statements of Seward, Inc. include the following data:
Current Year
Prior Year
Income Statement
Net Sales Revenue
$142,000
$112,000
Cost of Goods Sold
61,000
53,000
Operating Expenses
Interest Expense
40, 200
33,200
4,700
4,700
Income Tax Expense
6, 200
29,900
5,200
Net Income
15,900
Balance Sheet
Current Assets
127,000
107,000
Plant, Property and Equipment, Net
Current Liabilities
110,000
117,000
51,000
44,000
49,000
131,000
224,000
49,000
Long-Term Liabilities
Shareholders' Equity
Total Liabilities & Shareholders' Equity
137,000
237,000
Which of the following would be shown on Seward's horizontal analysis when calculating percentage changes from t
current year?
Multiple Choice

Save & Exrt
Subm
Which of the following would be shown on Seward's horizontal analysis when calculating percentage changes from the prior year to the
current year?
Multiple Choice
An increase in interest expense of 34.5%.
An increase in net income of 35.1%.
An increase in gross profit of 37.3%.
An increase in sales revenue of 33.9%.
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