II. Direction: The following comparative financial statements are provided by Zeus Company. UsingHorizontal and Vertical approach, calculate the missing and write your answer on the blank. Showsupporting solutions in a separate sheet of paper. Answer the questions at the bottom of this activity. ZEUS COMPANYCOMPARATIVE INCOME STATEMENTFor the years 2019 and 201820192018Rate of Inc(Dec)SalesP500,000.00(0.50%)Cost of Goods Sold50%40%Gross ProfitOperating Expenses:P301,500.00P95,000.0025,000.0020,000.00SalariesP97,000.00Rent25,000.00Marketing5%5,000.00Utilities1%Other Expenses7,500.0010,000.00Total ExpensesNet Income

Comparative balance sheet(horizontal approach) means where increase or decrease of every item is…

ZEUS COMPANY COMPARATIVE INCOME STATEMENT For the years 2019 and 2018 2019 2018 Rate of Inc(Dec) Sales P500,000.00 (0.50%) Cost of Goods Sold 50% 40% Gross Profit P301,500.00 Operating Expenses: Salaries P95,000.00 P97,000.00 Rent 25,000.00 25,000.00 Marketing 20,000.00 5% Utilities 1% 5,000.00 Other Expenses 7,500.00 10,000.00 Total Expenses Net Income

ZEUS COMPANY COMPARATIVE INCOME STATEMENT For the years 2019 and 2018 2019 2018 Rate of Inc(Dec) Sales P500,000.00 (0.50%) Cost of Goods Sold 50% 40% Gross Profit P301,500.00 Operating Expenses: Salaries P95,000.00 P97,000.00 Rent 25,000.00 25,000.00 Marketing 20,000.00 5% Utilities 1% 5,000.00 Other Expenses 7,500.00 10,000.00 Total Expenses Net Income

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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