Prepare a horizontal analysis of the income statement data for Georgia Development Corporation using 2016 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -12.1% or (55,000), (12.1%). Round percentages to 1 decimal place, e.g. 12.1%.) GEORGIA DEVELOPMENT CORPORATION Condensed Income Statements Increase or (Decrease) During 2017 December 31, 2017 December 31, 2016 Amount Percentage Net sales $600,000 $500,000 %24 Cost of goods sold 414,000 350,000 Gross profit 186,000 150,000 Operating expenses 150,000 120,000 % Net income $36,000 $30,000 % SHOW SOLUTION SHOW ANSWER LINK TO TEXT Prepare 12.1%.) vertical analysis of the income statement data for Georgia Development Corporation for both years. (Round percentages to 1 decimal place, e.g. GEORGIA DEVELOPMENT CORPORATION Condensed Income Statements 2017 2016 Percent Percent Net sales $600,000 $500,000 Cost of goods sold 414,000 % 350,000 Gross profit 186,000 150,000 Operating expenses 150,000 % 120,000 Net income $36,000 % $30,000 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER
Prepare a horizontal analysis of the income statement data for Georgia Development Corporation using 2016 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -12.1% or (55,000), (12.1%). Round percentages to 1 decimal place, e.g. 12.1%.) GEORGIA DEVELOPMENT CORPORATION Condensed Income Statements Increase or (Decrease) During 2017 December 31, 2017 December 31, 2016 Amount Percentage Net sales $600,000 $500,000 %24 Cost of goods sold 414,000 350,000 Gross profit 186,000 150,000 Operating expenses 150,000 120,000 % Net income $36,000 $30,000 % SHOW SOLUTION SHOW ANSWER LINK TO TEXT Prepare 12.1%.) vertical analysis of the income statement data for Georgia Development Corporation for both years. (Round percentages to 1 decimal place, e.g. GEORGIA DEVELOPMENT CORPORATION Condensed Income Statements 2017 2016 Percent Percent Net sales $600,000 $500,000 Cost of goods sold 414,000 % 350,000 Gross profit 186,000 150,000 Operating expenses 150,000 % 120,000 Net income $36,000 % $30,000 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter13: Financial Statement Analysis
Section: Chapter Questions
Problem 13.2DC
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