Express the following comparative income statements in
common-size percents. Using the common-size percentages, which item
is...
Express the following comparative income statements in
common-size percents. Using the common-size percentages, which item
is most responsible for the decline in net income?
Express the following comparative income statements in
common-size percents. (Round your percentage answers to 1 decimal
place.)
GOMEZ CORPORATION
Comparative Income Statements
For Years Ended December 31
Current Year
Prior Year
$
%
$
%
Sales
$730,000
$640,000
Cost of goods sold
565,400
288,800
Gross profit
164,600
351,200
Operating expenses
128,000
261,200
Net income
$36,600
$90,000...
Here are the comparative income statements of Whispering Winds
Corporation.
WHISPERING WINDS
CORPORATION
Comparative Income Statements...
Here are the comparative income statements of Whispering Winds
Corporation.
WHISPERING WINDS
CORPORATION
Comparative Income Statements
For the Years Ended December 31
December 31,
2022
December 31,
2021
Net sales
$688,000
$576,000
Cost of goods sold
445,000
417,000
Gross profit
243,000
159,000
Operating expenses
145,000
108,000
Net income
$98,000
$51,000
Prepare a horizontal analysis of the income statement data for
Whispering Winds Corporation using 2021 as a base. (If
amount and percentage are a decrease show the numbers as negative,...
Here are the comparative income statements of Ayayai Corp..
AYAYAI CORP.
Comparative Income Statement
For the...
Here are the comparative income statements of Ayayai Corp..
AYAYAI CORP.
Comparative Income Statement
For the Years Ended December 31
2017
2016
Net sales
$600,000
$500,000
Cost of goods sold
445,000
400,000
Gross Profit
155,000
100,000
Operating expenses
70,000
40,000
Net income
$ 85,000
$ 60,000
(a)
Prepare a horizontal analysis of the income statement data for
Ayayai Corp., using 2016 as a base. (If amount and
percentage are a decrease show the numbers as negative, e.g.
-55,000, -20% or...
Problem 17-2A Ratios, common-size statements, and trend percents
LO P1, P2, P3 [The following information applies...
Problem 17-2A Ratios, common-size statements, and trend percents
LO P1, P2, P3 [The following information applies to the questions
displayed below.] Selected comparative financial statements of
Korbin Company follow: KORBIN COMPANY Comparative Income Statements
For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015
Sales $505,425 $387,197 $268,700 Cost of goods sold 304,266 243,547
171,968 Gross profit 201,159 143,650 96,732 Selling expenses 71,770
53,433 35,468 Administrative expenses 45,488 34,073 22,302 Total
expenses 117,258 87,506 57,770 Income before taxes...
Exercise 18-4 The comparative condensed income statements of
Emley Corporation are shown below. EMLEY CORPORATION Comparative...
Exercise 18-4 The comparative condensed income statements of
Emley Corporation are shown below. EMLEY CORPORATION Comparative
Condensed Income Statements For the Years Ended December 31 2017
2016 Net sales $745,800 $678,000 Cost of goods sold 545,790 475,600
Gross profit 200,010 202,400 Operating expenses 141,250 135,600 Net
income $ 58,760 $ 66,800 (a) Prepare a horizontal analysis of the
income statement data for Emley Corporation using 2016 as a base.
(Enter negative amounts and percentages using either a negative
sign preceding...
Problem 17-2A Ratios, common-size statements, and trend percents
LO P1, P2, P3 [The following information applies...
Problem 17-2A Ratios, common-size statements, and trend percents
LO P1, P2, P3 [The following information applies to the questions
displayed below.] Selected comparative financial statements of
Korbin Company follow: KORBIN COMPANY Comparative Income Statements
For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015
Sales $505,425 $387,197 $268,700 Cost of goods sold 304,266 243,547
171,968 Gross profit 201,159 143,650 96,732 Selling expenses 71,770
53,433 35,468 Administrative expenses 45,488 34,073 22,302 Total
expenses 117,258 87,506 57,770 Income before taxes...
Using the following income statements, perform the calculations
needed for vertical analyses. (Round percentage values to...
Using the following income statements, perform the calculations
needed for vertical analyses. (Round percentage values to 1
decimal place.)
LOCKEY FENCING CORPORATION
Income Statements
For the Years Ended December 31
Current
Previous
Net
Sales
$190,000
%
$129,000
%
Cost of
Goods Sold
94,000
72,000
Gross
Profit
96,000
57,000
Selling,
General, and Administrative Expenses
14,400
8,100
Income
from Operations
81,600
48,900
Interest
Expense
4,800
6,450
Income
before Income Tax
76,800
42,450
Income Tax
Expense
23,040
12,735
Net
Income
$53,760
%
$29,715...
Here are the comparative income statements of Ayayai
Corp..
AYAYAI CORP.
Comparative Income Statement
For the...
Here are the comparative income statements of Ayayai
Corp..
AYAYAI CORP.
Comparative Income Statement
For the Years Ended December 31
2017
2016
Net sales
$600,000
$500,000
Cost of goods sold
445,000
400,000
Gross Profit
155,000
100,000
Operating expenses
70,000
40,000
Net income
$ 85,000
$ 60,000
(a)
Prepare a horizontal analysis of the income statement data for
Ayayai Corp., using 2016 as a base. (If amount and
percentage are a decrease show the numbers as negative, e.g.
-55,000, -20% or...
Express the balance sheets in common-size percents. (Do
not round intermediate calculations and round your final...
Express the balance sheets in common-size percents. (Do
not round intermediate calculations and round your final percentage
answers to 1 decimal place.)
SIMON COMPANY
Common-Size Comparative Balance
Sheets
December 31, 2015-2017
2017
2016
2015
Assets
Cash
%
%
%
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets, net
Total assets
%
%
%
Liabilities and Equity
Accounts payable
%
%
%
Long-term notes payable secured by
mortgages on plant assets
Common stock, $10 par
Retained earnings
Total liabilities and...
Question 1
Prepare a horizontal analysis of the following comparative
income statement for Westwind Corporation. Round...
Question 1
Prepare a horizontal analysis of the following comparative
income statement for Westwind Corporation. Round percentage changes
to the nearest one-tenth percent.
Westwind Corporation
Comparative Income Statement
For the Years Ended December 31, 2016 and 2015
2016
2015
Total revenue
$1,400,000
$1,250,000
Expenses:
Cost of goods sold
925,000
$830,000
Operating expenses
313,000
280,000
Interest expense
14,000
12,000
Income tax expense
48,300
38,000
Total expenses
$1,300,300
$1,160,000
Net Income
$99,700
$90,000