2) Mac Donald company reported the following on its comparative income statement: 2017 Revenue Cost of goods sold 2018 10,000 4,000 2019 14,000 9,000 9,000 6,000 Prepare a horizontal analysis of revenue, cost of goods sold and gross profit- both in OMR amounts and in percentages - 2018 and 2019.
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- The following select account data is taken from the records of Carnival Express for 2019. A. Use the data provided to compute net sales for 2019. B. Prepare a simple income statement for the year ended December 31, 2019. C. Compute the gross margin for 2019. D. Prepare a multi-step income statement for the year ended December 31, 2019.Use the following information relating to Clover Company to calculate the inventory turnover ratio, gross margin, and the number of days sales in inventory ratio, for years 2022 and 2023.Compute Altoona Companys (a) inventory turnover ratio and (b) number of days sales in inventory ratio, using the following information.
- Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.Mac Donald company reported the following on its comparative income statement: 2017 2018 2019 Revenue 9,000 10,000 14,000 Cost of goods sold 6,000 4,000 9,000 Prepare a horizontal analysis of revenue , cost of goods sold and gross profit2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales % % % Cost of goods sold -1 -1 -1 Gross profit Selling expenses -1 -1 -1 Administrative expenses -1 -1 -1 Total expenses Income before taxes -1 -1 -1 Income tax expense -1 -1 -1 Net income % % % See picture
- (i) What was Bellcamp's total sales, cost of goods sold, gross profit, and gross profit margin for 2019-2021?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 - - -…6. The following is the adjusted trial balance data for Nino's Pizzenia as of December 31, 2019. NINO'S PIZZERIA Adjusted Trlal Balance Year Ended December 31,2019 Debit Credit S 775,984 45,688 200,460 135,624 Cash Accounts Receivable Buildings Merchandise Inventory Accounts Payable Common Stock Sales Interest Revenue Rent Revenue Sales Salaries Expense office Supplies Expense Sales Discounts Interest Expense Sales Returns and Allowances, Cost of goods sold Rent Expense Depreciation Expense: Office Equipment Insurance Expense Advertising Expense Totals $437,880 410,542 555,696 84,652 86,900 24,500 6,270 102,890 4,577 105.854 122,853 20.000 10.555 2,780 17:635 $1,575,670 $1,575,670
- Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 $ 292,600 Sales $ 550,381 331,329 $ 421,637 Cost of goods sold 266,053 155,584 58,186 187,264 Gross profit 219,052 105,336 38,623 Selling expenses 78,154 49,534 127,688 91,364 16,994 Administrative expenses 37,104 24,286 Total expenses 95,290 60,294 12,360 62,909 Income before taxes 42,427 Income tax expense 8,613 Net income 74,370 47,934 33,814 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets Long-term investments Plant assets, net 2$ 61,979 %24 41,483 24 55,453 600 4,440 111,633 102.135 59,592 Total assets 173,612 24 144,218 $ 119,485 Liabilities and Equity Current liabilities 2$ 25,347 21,488 $ 64,000 $ 20,910 Common stock 64,000 46,000 Other paid-in capital Retained earnings 8,000 8,000 5,111 47,464 76,265 50,730 Total liabilities and equity 24…Perform a horizontal analysis for the entry "Gross Sales" shown on the income statement portion below. (Round percentages to one decimal place.) Increase/Decrease Revenue 2019 2018 Amount Percent Gross Sales $271,000 $200, 500 Less: Sales Returns 14,200 12,400 and Allowances Net Sales 256,800 188,100 Cost of Goods Sold Merchandise Inventory 31,900 33,800 Net Purchases 60,300 55,500 Goods Available for Sale 92,200 89,300 Less: Merchandise 43,000 60,200 Inventory, Dec. 31 Cost of Goods Sold 49,200 29,100 207,600 159,000 Gross Margin[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, 2019, 2018, and 2017 2019 2018 $ 421,637 2017 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses $ 550,381 $ 292,600 331,329 266,053 155,584 187,264 219,052 105,336 78,154 49,534 127,688 58,186 38,623 37,104 95,290 24,286 Income before taxes 62,909 91,364 60,294 12,360 Income tax expense 42,427 16,994 8,613 Net income $ 74,370 24 47,934 33,814 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 Assets 2019 2018 2017 Current assets 24 61,979 24 41,483 $ 55,453 4,440 Long-term investments 600 Plant assets, net 111,633 102,135 59,592 Total assets $ 173,612 24 144,218 %2$ 119,485 Liabilities and Equity Current liabilities 2$ 25,347 2$ 64,000 21,488 2$ 64,000 8,000 50,730 20,910 46,000 5,111 Common stock Other…
