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- The Statement of Comprehensive Income of PRINCESS Merchandising for three years ending December 31, 2016, 2017, 2018 are presented as follows: Prepare a trend percentage Statement of Comprehensive Income. 2016 2017 2018 Net Sales 450 000 585 000 690 000 Cost of Sales 283 500 321 750 337 500 Gross Profit 166 500 263 250 352 500 Operating Expenses Marketing Expenses 40 500 75 750 99 000 General Administrative 56 250 39 000 60 000 Net Income 69 750 148 500 193 500 2016 2017 2018 Net Sales 100 Cost of Sales 100 Gross Profit 100 Operating Expenses Marketing Expenses 100 100 General Administrative 100 Net Income 100The following information is taken from PT Wealthy Day's financial statements for 2015:Sales: Rp 500,000,000Cost Of Sales: Rp 300,000,000 The comparative statements of financial position for certain accounts show the following balances: 31 December 2015 31 December 2014 Account Receivable 30.000.000 43.000.000 Merchandise Inventory 50.000.000 42.000.000 Account Payable 56.000.000 59.400.000 Using the direct method, calculate the amount of cash received from customers in 2015: a. Rp 487.000.000 b. Rp 513.000.000 c. Rp 470.000.000 d. Rp 543.000.000Financial statement data for Boutique Factor (a high-end clothing retail company) are given below. All figures are in dollars. Use this data to construct an Income Statement for the year ending December 31, 2022, and use your constructed statement to answer the following 4 questions Advertising Beginning of year inventory Depreciation Dividends paid to common End of year inventory General and administrative expenses Gross sales Interest expense Lease payments Management salaries Purchases Research and development Returns and allowances Taxes stockholders 47,570 111,760 15,040 22,640 64,350 34,560 1,241,000 8,350 19,860 102,780 407,300 1,930 6,960 20,970 16. What was gross profit from Boutique Factor's income statement for the year ending December 31, 2022? 17. What was operating profit (i.e., EBIT) from Boutique Factor's income statement for the year ending December 31, 2022? 18. What was profit before taxes (i.c., EBT) from Boutique Factor's income statement for the year ending…
- Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,260 $ 1,979 $ 1,801 $ 1,651 $ 1,540 $ 1,432 $ 1,174 Cost of goods sold 1,625 1,322 1,137 995 925 865 689 Gross profit 635 657 664 656 615 567 485 Operating expenses 483 378 347 256 222 219 182 Net income $ 152 $ 279 $ 317 $ 400 $ 393 $ 348 $ 303 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 111 $ 147 $ 153 $ 156 $ 162 $ 160 $ 165 Accounts receivable, net 800 840 760 583 514 487 343 Merchandise inventory 2,893 2,106 1,840 1,551 1,393 1,183 858 Other current assets 74 67 41 74 62 63 33 Long-term investments 0 0 0 228 228 228 228 Plant assets, net 3,541 3,527 3,086 1,740 1,799 1,599 1,373 Total assets $ 7,419 $ 6,687 $ 5,880 $ 4,332 $ 4,158 $ 3,720 $ 3,000 Liabilities and…The financial statements of ConAgra Foods, Inc.'s 2017 annual report disclose the following information. (in millions) 2017 2016 2015 Year-end inventories $934.2 $1,044.1 $1,642.6 Fiscal Year 2017 2016 Net sales $7,826.9 $8,664.1 Cost of goods sold 5,484.8 6,234.9 Net income 648.0 (665.9) Compute ConAgra's (a) inventory turnover and (b) the average days to sell inventory for 2017 and 2016. (Round inventory turnover to 1 decimal place, e.g. 7.6 and average days to sell inventory to 0 decimal places, eg. 65.) 2017 2016 (a) Inventory turnover times times (b) Average days to sell inventory days daysThe summarized financial statements of Dutch Baby Berhad for the period ended 31 December 2015 were as follows: Dutch Baby Berhad Income Statement for the year ended 31 December 2015 RM RM Sales (-) Cost of Goods Sold 1,001,660 (580,950) Gross Profit 420,710 (-) Operating Expenses Distribution Expenses General & Administrative Expenses Depreciation 191,900 24,330 16,000 (232,230) Earnings Before Interest & Taxes (EBIT) 188,480 (-) Interest Expenses (36,000) Earnings Before Taxes (EBT) 152,480 (-) Taxes Expenses (47,700) Net Income 104,780 Dutch Baby Berhad Balance Sheet as at 31 December 2015 RM RM Non-Current Assets Property & Equipment (-) Acc. Depreciation Intangible Assets 120,000 (29,070) 5,000 Non-Current Liabilities Long-term Loan Current Liabilities Account Payables Current Tax Liabilities 131,135 116,650 7,520…
- Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,318 $ 2,030 $ 1,847 $ 1,693 $ 1,580 $ 1,469 $ 1,204 Cost of goods sold 1,667 1,356 1,167 1,021 949 887 707 Gross profit 651 674 680 672 631 582 497 Operating expenses 497 389 356 263 228 225 187 Net income $ 154 $ 285 $ 324 $ 409 $ 403 $ 357 $ 310 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 89 $ 118 $ 122 $ 125 $ 130 $ 128 $ 132 Accounts receivable, net 640 672 608 467 411 389 275 Merchandise inventory 2,315 1,685 1,472 1,241 1,114 946 686 Other…https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%.. omework i Saved Minta Corporation is a leading manufacturer of sports apparel, shoes, and equipment. The company's 2017 financial statements contain the following information ($ in millions): 2017 2016 Balance sheets: Accounts receivable, net Income statements: Sales revenue $ 4,172 $ 3,736 $35,745 $33,771 A note disclosed that the allowance for uncollectible accounts had a balance of $28 million and $52 million at the end of 2017 and 2016, respectively. Bad debt expense for 2017 was $49 million. Assume that all sales are made on a credit basis. es Required: 1. What is the amount of gross (total) accounts receivable due from customers at the end of 2017 and 2016? 2. What is the amount of bad debt write-offs during 2017? 3. Analyze changes in the gross accounts receivable account to calculate the amount of cash received from customers during 2017. 4. Analyze changes in net accounts receivable…Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,272 $ 1,989 $ 1,810 $ 1,659 $ 1,548 $ 1,440 $ 1,180 Cost of goods sold 1,634 1,329 1,143 1,001 930 870 693 Gross profit 638 660 667 658 618 570 487 Operating expenses 486 380 349 257 223 220 183 Net income $ 152 $ 280 $ 318 $ 401 $ 395 $ 350 $ 304 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 85 $ 113 $ 117 $ 120 $ 124 $ 123 $ 127 Accounts receivable, net 613 644 583 447 394 373 263 Merchandise inventory 2,218 1,615 1,411 1,189 1,068 907 658 Other current assets 57 51 32 56 48 48 25 Long-term investments 0 0 0 175 175 175 175 Plant assets, net 2,715 2,704 2,365 1,334 1,379 1,226 1,052 Total assets $ 5,688 $ 5,127 $ 4,508 $ 3,321…
- Use the following Income Statement and Balance Sheet Information for 2018 to answer the question below. This is a Retail Company. All numbers are in Millions. Income Statement Total Sales213.8 Cost of Sales151.3 Gross Profit213.8-151.3 Selling and Administrative Expenses22.3 Research and Development 7.7 Depreciation and Amortization4.5 Other Income2.4 EBIT213.8-151.3-22.3-7.7-4.5+2.4 Interest Expense5.8 Pretax Income213.8-151.3-22.3-7.7-4.5+2.4-5.8 Taxes( 213.8-151.3-22.3-7.7-4.5+2.4-5.8 )*0.30 Net Income( 213.8-151.3-22.3-7.7-4.5+2.4-5.8 )*0.70 Balance Sheet Assets Liabilities Cash65.8Accounts Payable43.3Accounts Receivable54.4Notes Payable/Short term debt1.6Inventories4.4 Total Current Assets65.8+54.4+4.4Total Current Liabilities43.3+1.6 Net property, plant and equipment103.4Long-term debt80.0Total long-term assets103.4Total long-term debt liabilities80.0 Total Liabilities43.3+1.6+80.0 Stockholders' Equity (Total Equity)65.8+ 54.4+4.4+103.4-43.3-1.6-80.0Total…Adesson, Inc. has the following Income Statement (in millions): ADESSON, INC. Income Statement For the Year Ended December 31, 2017 Net Sales $200 Cost of Goods Sold 180 Gross Profit 20 Operating Expenses 10 Net Income $ 10 Using vertical analysis, what percentage is assigned to operating expenses?1. Data for Abakada Trading Company are given below: 2014 2015 Revenue 1,939,500 1,674,675 Cost of Goods Sold 900,000 843,975 Gross Profit 1,039,500 830,700 Selling and General Expenses 445,500 409,725 Other Expenses 37,575 30,825 Net Income 556,425 390,150 Requirements: a. Prepare a Vertical Analysis Statement A of Comprehensive Income for 2014 and 2015 for Abakada Trading Company. b. Prepare a horizontal analysis for Abakada Trading Company.