Income Statements For the Years Ended December 31 Increase/(Decrease) 20Υ7 20Y6 Amount Percent Fees earned $1,534,000 $1,300,000 S Expenses (1,175,200) (1,040,000) Net income $358,800 $260,000 $
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- Satterfield Company Income Statements For the Years Ended December 31 Amount Percent Increase/ Increase/ (Decrease) (Decrease) 20Υ1 20YO Fees earned $611,820 $540,000 $ 71,820 Operating expenses 379,050 350,000 $ 29,050 Net income $232,770 $190,000 S 42,770Randall Corporation reported the following revenue data:Year Net revenues (in millions)$$$$6,8007,0046,7327,2762016201720182019Use 2016 as the base year. The trend percentage in 2019 is closest toa. 93%.b. 104%.c. 107%.d. 112%Satterfield CompanyIncome StatementsFor the Years Ended December 31 20Y1 20Y0 Fees earned $534,100 $490,000 Operating expenses 328,960 320,000 Net income $205,140 $170,000 Prepare a horizontal analysis of Satterfield Company income statements. Round percent answers to one decimal place. If required, use the minus sign to indicate a decrease in the amount and percentage columns. 20Y1 20Y0 AmountIncrease/(Decrease) PercentIncrease/(Decrease) Fees earned $534,100 $490,000 $fill in the blank 1 fill in the blank 2% Operating expenses 328,960 320,000 $fill in the blank 3 fill in the blank 4 Net income $205,140 $170,000 $fill in the blank 5 fill in the blank 6
- 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. 100,000Prepare a horizontal analysis of Vaughn Company's income statements. Use the minus sign to indicate a decrease in the amount and percenta columns. Vaughn Company Income Statements For the Years Ended December 31 Amount Percent Increase/ (Decrease) (Decrease) 20Υ1 20γ0 Increase/ Fees earned $716,800 $896,000 $ Operating expenses 557,760 672,000 Net income $159,040 $224,000Assume the following sales data for a company: Current year $1,025,000 Preceding year 820,000 What is the percentage increase in sales from the preceding year to the current year? Oa. 125% Ob. 25% Oc. 75% Od. 100%
- PNG Company Comparative Balance Sheets For the year ended December 31 20X1 20X0 Current assets Cash $157,000 $105,000 Accounts receivable 49,000 62,000 Inventory 53,700 36,100 Prepaid rent 11,400 8,300 Total current assets $271,100 $211,400 Long-term assets Investment in bonds $30,000 $14,800 Land 216,300 184,200 Equipment (net) 114,500 137,900 Total long-term assets $360,800 $336,900 Total assets $631,900 $548,300 Current liabilities Accounts payable $61,300 $52,700 Interest payable 4,900 8,500 Income tax payable 15,400 12,600 Total current liabilities $81,600 $73,800 Long-term liabilities Bonds payable $173,800 $205,400 Stockholders' equity Common stock…PNG Company Comparative Balance Sheets For the year ended December 31 20X1 20X0 Current assets Cash $157,000 $105,000 Accounts receivable 49,000 62,000 Inventory 53,700 36,100 Prepaid rent 11,400 8,300 Total current assets $271,100 $211,400 Long-term assets Investment in bonds $30,000 $14,800 Land 216,300 184,200 Equipment (net) 114,500 137,900 Total long-term assets $360,800 $336,900 Total assets $631,900 $548,300 Current liabilities Accounts payable $61,300 $52,700 Interest payable 4,900 8,500 Income tax payable 15,400 12,600 Total current liabilities $81,600 $73,800 Long-term liabilities Bonds payable $173,800 $205,400 Stockholders' equity Common stock…The selling expenses 440 000 ID. administrative expenses 240 000 ID., income from operating 630 000 ID., other expenses and losses 90 000 ID., income tax 40 000 ID., cost of purchases 180 000 ID., the net income for the year is 680 000 ID. O 760 000 ID. 940 000 ID. O 500 000 ID. no one.
- SUNLAND COMPANYIncome StatementsFor the Years Ended December 31 2022 2021 Net sales $2,178,400 $2,030,000 Cost of goods sold 1,207,000 1,187,080 Gross profit 971,400 842,920 Selling and administrative expenses 590,000 565,220 Income from operations 381,400 277,700 Other expenses and losses Interest expense 25,960 23,600 Income before income taxes 355,440 254,100 Income tax expense 106,632 76,230 Net income $ 248,808 $ 177,870 SUNLAND COMPANYBalance SheetsDecember 31 Assets 2022 2021 Current assets Cash $ 70,918 $ 75,756 Debt investments (short-term) 87,320 59,000 Accounts receivable 139,004 121,304 Inventory 148,680 136,290 Total current assets 445,922 392,350 Plant assets (net) 765,820 613,954 Total assets $1,211,742…The following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%, and it had 70,000 common shares outstanding during the entire year. (a) Your Answer Correct Answer Your answer is partially correct. Prepare a corporate income statement. (List other revenues before other expenses.)K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...
