5. For common-size statement of comprehensive income , _______________ is set 100% a. Net Sales b. Gross Profit c. Net Income d. Total Asset
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5. For common-size statement of comprehensive income , _______________ is set 100%
a. Net Sales
b. Gross Profit
c. Net Income
d. Total Asset
Step by step
Solved in 2 steps
- A vertical common-size income sheet expresses each category of the income statement as a percentage of A. assets. B. equity. C. revenue. D. operating income.2. The statement of profit or loss and other comprehensive income shall presenta. Profit or lossb. Total other comprehensive incomec. Comprehensive income for the period, being the total of profit or loss and other comprehensive incomed. All of the aboveIn a common-sized income statement, 100% is the a. net cost of goods sold b. gross profit c. sales d. net income
- 9. Write-downs of inventories to their net realizable value are recognized a. in profit or loss b. in other comprehensive income c. directly in equity d. any of theseAnswer the following: 16. Gross Profit ratio17. Operating Ratio18. Rate of return on AssetsReturn on assets is equal to: Multiple Choice Net income divided by average total assets. Net income divided by average long-term assets. Net income divided by long-term assets. O Average total assets divided by net income.
- In composite analysis, the items in the Profit and Loss alc are expressed as a percentage of * Balance Sheet total Total sales Net Profit O Gross ProfitThe formula for current ratio is Select one: a. Current Assets plus current liablities b. Current assets less current liablities c. Current assets divided by current liablities d. Current assets divided by current liablities x 100When performing vertical analysis of an income statement, the base amount is ________. A sales revenue B total expenses C gross profit D net income
- In the statement of profit and loss of common size statement a. Figure of net revenue from operations is assumed to be equal to 100 b. Figure of gross profit is assumed to be equal to 100 c. Figure of net profit is assumed to be equal to 100 d. Figure of assets is assumed to be equal to 100The amount reported for comprehensive income Select one: is the same as net income. is less than net income. is greater than net income. can be greater than or less than net income.Requirement : 2 Calculate the following from the additional information given G Gross profit H Net profit