QUESTION 4E18.4E18.4 (LO 2)Prepare vertical analysis.Operating data for Joshua Corporation are presented below.20202019Sales revenue$800,000$600,000Cost of goods soldSelling expenses520,000408,000120,00072,000Administrative expenses60,00048,000Income tax expense30,00024,000Net income70,00048,000InstructionsPrepare a schedule showing a vertical analysis for 2020 and 2019.QUESTION 5E18.5E18.5 (LO 2) Suppose the comparative balance sheets of Nike, Inc. are presented herPrepare horizontal and vertical analysesNike, Inc.Comparative Balance SheetsМау 31($ in millions)Assets20202019Current assets$ 9,734$ 8,839Property, plant, and equipment (net)1,9581,891Other assets1,5581,713Total assetS$13,250$12,443Liabilities and Stockholders' EquityCurrent liabilities$ 3,277$ 3,322Long-term liabilitiesStockholders' equityTotal liabilities and stockholders' equity1,2801,2968,6937,825$13,250$12,443Instructionsa. Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a b(Show the amount of increase or decrease as well.)b. Prepare a vertical analysis of the balance sheet data for Nike for 2020.QUESTION 6E18.7F18 7 (IO 3) Nordstrom Inc onerates denartment stores in numerous states Sunno

Income statement: It is one of the financial statements prepared by an organization. This statement…

QUESTION 4 E18.4 E18.4 (LO 2) Prepare vertical analysis. Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $800,000 $600,000 Cost of goods sold Selling expenses 520,000 408,000 120,000 72,000 Administrative expenses 60,000 48,000 Income tax expense 30,000 24,000 Net income 70,000 48,000 Instructions Prepare a schedule showing a vertical analysis for 2020 and 2019.

QUESTION 4 E18.4 E18.4 (LO 2) Prepare vertical analysis. Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $800,000 $600,000 Cost of goods sold Selling expenses 520,000 408,000 120,000 72,000 Administrative expenses 60,000 48,000 Income tax expense 30,000 24,000 Net income 70,000 48,000 Instructions Prepare a schedule showing a vertical analysis for 2020 and 2019.

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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B. Below is the Statement of Comprehensive Income of Q & A Trading Company: Percentage 2020 P1,939,500 900,000 1,039,500 445,500 37,575 P 556,425 2019 Percentage Revenue Cost of Goods Sold Gross Profit Selling and General Experses Other Experses Net Income P1,674,675 843,975 830,700 409,725 30,825 P 390,150 Requirements: Prepare a vertical aralysis for Q & A Trading Compary.
Use the given statement of comprehensive income below in answering the question. DEF Company, Income Statement 2021 2020 Sales P10,200.00 P9,600.00 Cost of Goods Sold P3,000.00 P2,600.00 Gross Profit P7,200.00 P7,000.00 Operating Expenses P2,400.00 P2,200.00 Operating Profit P4,800.00 P4,800.00 Interest Expense P900.00 P800.00 Earnings before tax P3,900.00 P4,000.00 Income Tax P1,560.00 P1,600.00 Net Profit P2,340.00 P2,400.00 How many percent of the sales is the operating expenses in 2021 and 2020? A 8.82% and 8.33% 70.59% and 72.92% 29.41% and 27.08% 23.53% and 22.92%
Use the given statement of comprehensive income below in answering the question. DEF Company, Income Statement 2021 2020 Sales P10,200.00 P9,600.00 Cost of Goods Sold P3,000.00 P2,600.00 Gross Profit P7,200.00 P7,000.00 Operating Expenses P2,400.00 P2,200.00 Operating Profit P4,800.00 P4,800.00 Interest Expense P900.00 P800.00 Earnings before tax P3,900.00 P4,000.00 Income Tax P1,560.00 P1,600.00 Net Profit P2,340.00 P2,400.00 What is the percent change of net profit? А -3.5% В 12.5% C) -12.5% -2.5%
Operating data for Joshua Corporation are presented as follows: Net Sales Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense Net Income 2022 800,000 520,000 120,000 60,000 30,000 70,000 Instructions Prepare a schedule showing a vertical analysis for 2022 and 2021. Net Sales Cost of Goods Sold Gross Profit Selling Expenses Your Answers: FYI: Format the percent cols to one decimal place. Ex 99.9% 2022 Administrative Expenses Total Operating Expenses Income Before Income Taxes Income Tax Expense Net Income 2021 600,000 408,000 72,000 48,000 24,000 48,000 Amount 800,000 520,000 280,000 120,000 60,000 180,000 100,000 30,000 70,000 Percent 100.0% 2021 Amount Percent 600,000 100.0% 408,000 192,000 72,000 48,000 120,000 72,000 24,000 48,000
Problem 2: The Statement of Comprehensive Income of Alexis Company is reproduced below: Net sales Cost of goods sold Selling expenses Administrative expenses Interest expense Net income 12/31/20R4 P3,375,000.00 2,092,500.00 540,000.00 270,000.00 148,500.00 P324,000.00 12/31/20R3 P2,700,000.00 1,755,000.00 Required: 1. Perform horizontal analysis for 20R4 using 20R3 as base year. 2. Perform vertical analysis for 20R4 and 20R3 income statement. 324,000.00 243,000.00 108,000.00 P270,000.00
Assignment COMPARATIVE STATEMENTS Sikat Manufacturing Corporation Income Statement For the year ended Dec. 31, 2020 and 202019 2020 2019 P 5,150,000 -150,000 5,000,000 3,200,000 1,800,000 Sales 4,250,000 na 250.000 4,000,000 2.600,000 1,400,000 Less: Sales Returns and Allowances Net Sales Less: Cost of Sales Gross Profit Less: Operating Expenses Selling Expenses General and Administrative Expenses Total Operating Expenses Operating Income Less: Interest expense Net Income before tax Less: Income tax.(32% ) Net Income 720,000 780,000 1,500,000 300,000 60,000 240,000 76,800 P 163.200 600,000 600,000 1,200,000 200,000 40,000 160,000 51,200 P 108,800 Sikat Manufacturing Corporation Balance Sheet Dec. 31, 2020 and 2019 2020 2019 ASSETS P 225,000 150,000 240,000 260,000 120,000 150,000 70,000 550,000 P1.765.000 P 1,520,000 Cash P140.000 125,000 180,000 160,000 145,000 170,000 80,000 520,000 Marketable Securities Accounts Receivable Inventories: Finished Goods Work-in-Process Raw Materials…
Problem 1: Comparative income statements for 2020 and 2019 follow. Sales Cost of Sales Gross Profit Operating Expenses Operating Income Interest Expense Earnings Before Tax Income Taxes Net Income 2020 $9,434,000 7,075,400 $2,358,600 $2,201,360 1,367,690 1,365,060 $ 990,910 $836,300 157,500 126,000 $ 833,410 $ 710,300 400,000 317,200 $ 433,410 $ 393,100 2019 $7,862,000 5,660,640 Required: 4 a. Prepare a vertical common-size analysis of this statement for each year, using sales as the base. b. Comment briefly on the changes between the two years, based on the vertical common-size statement.
Prepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…
[The following information applies to the questions displayed below.] 2021 2020 2019 Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets Numerator: 2021 2020 2019 $548,688 $ 420,340 $ 291,700 330,310 263,974 186,688 156,366 KORBIN COMPANY Comparative Balance Sheets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 218,378 77,914 49,382 127,296 91,082 16,941 1 1 / 1 1 58,007 36,990 94,997 61,369 12,581 $ 74,141 $ 48,788 December 31 2021 $ 62,574 0 Current Ratio 114,438 $ 177,012 $ 25,844 65,000 8,125 78,043 Required: 1. Complete the below table to calculate each year's current ratio. Denominator: $ 41,881 $…
CAN SOMEONE HELP ME PREPARE A SCHEDULE VERTICAL ANALYSIS? Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $754,000 $605,000 Cost of goods sold 465,218 392,645 Selling expenses 122,148 69,575 Administrative expenses 61,828 54,450 Income tax expense 33,176 21,780 Net income 71,630 66,550
1. Prepare a comparative statements for Sunshine Co. showing an income statement for 3 year period. 2019. 2020. 2021Sale 500,000. 475,0000. 505,000Less: Cost of sales. 300,000. 210,000. 250,000Gross Profit on Sales. 200,000. 265,000 255,000Less: Operating Expenses. 120,000. 180,000. 155,000Net Income 80,000. 85,000. 100,000
Question: Vertical Analysis of the Income statement Company A Company B Net sales 2,300,000 300,000 Cost of goods sold 1,100,000 200,000 Gross profit 1,200,000 100,000 Operating Expenses: Administrative expenses 120,000 20,000 Marketing expenses 220,000 30,000 Research and Development 500,000 10,000 Total Operating expenses 840,000 60,000 Interest expense 200,000 10,000 Net income 160,000 30,000 Required: Prepare a vertical analysis of these two companies. Compare and contrast the financial situation of these two companies assuming that they are in the same industry. Discuss fully.