Horngren's Accounting, The Financial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (11th Edition)
11th Edition
ISBN: 9780134078960
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 17, Problem E17.15E
Performing horizontal analysis−income statement
Data for McCormick Designs, Inc. follow:
MCCORMICK DESIGNS, INC.
Comparative Income Statement
Years Ended December 31, 2016 and 2015
| 2016 | 2015 | |
| Net Sales Revenue | $ 431,250 | $ 373,000 |
| Expenses: | ||
| Cost of Goods Sold | 202,000 | 189,000 |
| Selling and Administrative Expenses | 100,050 | 92.550 |
| Other Expenses | 8,000 | 2.150 |
| total Expenses | 310,050 | 283.700 |
| Net income | $ 121,200 | $89,300 |
Requirements
- Prepare a horizontal analysis of the comparative income statement of McComrmicDesigns, Inc. Round percentage changes to one decimal place.
- Why did 2016 net income increase by a higher percentage than net sales revenue?
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GIVE THE COMPARATIVE INCOME STATEMENT HORIZONTAL AND VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW
JOLLIBEE INCOME STATEMENT
ITEM
2016
2017
2018
2019
2020
Sales/Revenue
113.81B
133.61B
161.17B
179.63B
129.31B
Sales Growth
-
17.40%
20.62%
11.45%
-28.01%
Cost of Goods Sold (COGS) incl. D&A
-
-
132.96B
150.88B
115.39B
COGS Growth
-
-
-
13.47%
-23.52%
COGS excluding D&A
89.27B
105.39B
121.08B
137.38B
100.82B
Depreciation & Amortization Expense
4B
4.75B
11.89B
13.5B
14.57B
Depreciation
3.93B
4.66B
11.73B
13.34B
14.32B
Amortization of Intangibles
68.99M
78.95M
151.82M
145.42M
245.23M
Gross Income
20.54B
23.48B
28.21B
28.75B
13.92B
Gross Income Growth
-
14.30%
20.12%
1.93%
-51.57%
Gross Profit Margin
-
-
-
-
10.77%
SG&A Expense
-
-
17.64B
20.21B
20.42B
SGA Growth
-
-
-…
please explain the result of income statement that provided in image below
GIVE THE COMPARATIVE INCOME STATEMENT VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW
JOLLIBEE INCOME STATEMENT
ITEM
2016
2017
2018
2019
2020
Sales/Revenue
113.81B
133.61B
161.17B
179.63B
129.31B
Sales Growth
-
17.40%
20.62%
11.45%
-28.01%
Cost of Goods Sold (COGS) incl. D&A
-
-
132.96B
150.88B
115.39B
COGS Growth
-
-
-
13.47%
-23.52%
COGS excluding D&A
89.27B
105.39B
121.08B
137.38B
100.82B
Depreciation & Amortization Expense
4B
4.75B
11.89B
13.5B
14.57B
Depreciation
3.93B
4.66B
11.73B
13.34B
14.32B
Amortization of Intangibles
68.99M
78.95M
151.82M
145.42M
245.23M
Gross Income
20.54B
23.48B
28.21B
28.75B
13.92B
Gross Income Growth
-
14.30%
20.12%
1.93%
-51.57%
Gross Profit Margin
-
-
-
-
10.77%
SG&A Expense
-
-
17.64B
20.21B
20.42B
SGA Growth
-
-
-
14.57%
1.02%…
Chapter 17 Solutions
Horngren's Accounting, The Financial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (11th Edition)
Ch. 17 - Prob. 1QCCh. 17 - Prob. 2QCCh. 17 - Prob. 3QCCh. 17 - Prob. 4QCCh. 17 - Prob. 5QCCh. 17 - Prob. 6QCCh. 17 - Prob. 7QCCh. 17 - Prob. 8QCCh. 17 - Prob. 9QCCh. 17 - Prob. 10QC
Ch. 17 - Prob. 1RQCh. 17 - Prob. 2RQCh. 17 - Prob. 3RQCh. 17 - Prob. 4RQCh. 17 - Prob. 5RQCh. 17 - Prob. 6RQCh. 17 - What is benchmarking, and what are the two main...Ch. 17 - Prob. 8RQCh. 17 - Prob. 9RQCh. 17 - Prob. 10RQCh. 17 - Prob. 11RQCh. 17 - Prob. 12RQCh. 17 - Prob. 13RQCh. 17 - Prob. 14ARQCh. 17 - Prob. 15ARQCh. 17 - Prob. S17.1SECh. 17 - Prob. S17.2SECh. 17 - Prob. S17.3SECh. 17 - Performing vertical analysis Hoosier Optical...Ch. 17 - Prob. S17.5SECh. 17 - Prob. S17.6SECh. 17 - Use the following information for Short Exercises...Ch. 17 - Prob. S17.8SECh. 17 - Prob. S17.9SECh. 17 - Prob. S17.10SECh. 17 - Prob. S17.11SECh. 17 - Prob. S17.12SECh. 17 - Prob. S17.13SECh. 17 - Prob. S17.14SECh. 17 - Performing horizontal analysisincome statement...Ch. 17 - Prob. E17.16ECh. 17 - Prob. E17.17ECh. 17 - Prob. E17.18ECh. 17 - Prob. E17.19ECh. 17 - Prob. E17.20ECh. 17 - Prob. E17.21ECh. 17 - Prob. E17.22ECh. 17 - Prob. E17.23ECh. 17 - Prob. E17.24ECh. 17 - Prob. E17.25ECh. 17 - Prob. E17.26ECh. 17 - Prob. P17.27APGACh. 17 - Prob. P17.28APGACh. 17 - Prob. P17.29APGACh. 17 - Prob. P17.30APGACh. 17 - P17-31A Using ratios to evaluate a stock...Ch. 17 - Prob. P17.32APGACh. 17 - Prob. P17.33APGACh. 17 - Prob. P17.34BPGBCh. 17 - Prob. P17.35BPGBCh. 17 - Prob. P17.36BPGBCh. 17 - Prob. P17.37BPGBCh. 17 - Prob. P17.38BPGBCh. 17 - Prob. P17.39BPGBCh. 17 - Prob. P17A.40BPGBCh. 17 - Prob. P17.41CPCh. 17 - Prob. P17.1CPCh. 17 - Prob. 17.1DCCh. 17 - Prob. 17.1EICh. 17 - Prob. 17.1FSC
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