I need help. XFILEPasteClipboardA1HOMECalibriINSERTB IU⠀891011 Sales RevenuesDIMFont12 Expenses:Rent Expense1314 Wages Expense15Utilities Expense16 Income Tax Expense17 Net incomePAGE LAYOUT11 A ARelationships among Financial Statements - ExcelDATAREVIEWfxFORMULAS%Alignment NumberAB1 Presented below are incomplete financial statements for Marta Communications, Inc.2MARTA COMMUNICATIONS, INC.Income StatementFor the Month Ended March 31, 20X1$34,500CellConditional Format asFormatting Table StylesStylesPresented below are incomplete financial statements for Marta Communications,2,600VIEWC3 Required:4 Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on5 another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus6 indicating the relationship between the two statements.74,800800$4,100?ElCells EditingD4Sign Inx Paste8ClipboardA1CalibriBIUIAFontXSheet111181920212223 Retained Earnings, March 1, 20X124Add: Net income25 Subtract: Dividends26 Retained Earnings, March 31, 20X1272829303132 Asset:33Cash34Accounts receivable35 Office supplies36Land37 Total Assets38394041Α Α΄+%Alignment Number Conditional Format asMARTA COMMUNICATIONS, INC.Statement of Retained EarningsFor the Month Ended March 31, 20X1IllCellFormatting Table StylesStylesPresented below are incomplete financial statements for Marta Communications,B$0(500)MARTA COMMUNICATIONS, INC.Balance SheetAt March 31, 20x1Liabilities$3,400 Accounts payableStockholders' Equity2,300Common stock12,000 Retained earningsс◄Total Liabilities and Stockholders' EquityCells Editingm$6,80014,000€

Lets understand the basics. For calculating missing figures, we need to understand below things. (1)…

Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus indicating the relationship between the two statements. MARTA COMMUNICATIONS, INC. Income Statement For the Month Ended March 31, 20X1 Sales Revenues Expenses: Rent Expense Wages Expense Utilities Expense Income Tax Expense Net income $34,500 2,600 4,800 800 $4,100

Solve for the missing amounts. NOTE: When an amount on one financial statement is again shown on another statement, you MUST reference the cell from the earlier statement rather than calculate the amount, thus indicating the relationship between the two statements. MARTA COMMUNICATIONS, INC. Income Statement For the Month Ended March 31, 20X1 Sales Revenues Expenses: Rent Expense Wages Expense Utilities Expense Income Tax Expense Net income $34,500 2,600 4,800 800 $4,100

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...

See similar textbooks

Similar questions

Assume the following sales data for a company: Line Item Description Amount Current year $883,993 Preceding year 542,076 What is the percentage increase in sales from the preceding year to the current year? a. 63.08% b. 61.32% c. 163.08% d. 38.68%
Calculator Print Item Horizontal Analysis Two income statements for Vaughn Company follow: Vaughn Company Income Statements For the Years Ended December 31 20Υ1 20YO Fees earned $716,800 $896,000 Operating expenses 557,760 672,000 Net income $159,040 $224,000 Prepare a horizontal analysis of Vaughn Company's income statements. Use the minus sign to indicate a dec Vaughn Company Income Statements For the Years Ended December 31 Amount Percent 20Υ1 20YO Increase/ Increase/ (Decrease) (Decrease) Fees earned $716,800 $896,000 S Operating expenses 557,760 672.000 Net income $159.040 s224,000 S
Prepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…
Harrington Housewares Company Income Statement For the Year Ended June 30, 20xx Revenues Net sales Interest income Total revenues $1,197,132 5,720 $1,202,852 Costs and expenses Cost of goods sold Selling expenses. General and administrative expenses Interest expense Total costs and expenses $777,080 203,740 100,688 13,560 1,095,068 $ 107,784 Net income nome statement and tell what insights canibe obtaired from the multistep form opposed torthe single-step form. as he following accounts: and balances are from the general ledger of SwaneCompany Aiccounts Payable Aiccounts Receivable Cash Current Portion: of Long-Term: Debt Eong-Term nvestments Marketable Securities Merchandise Inventory Notes Payable, 90: days Notes Payable,2 years Notes Receivable 90 days. Notes Rieceivable; 2 years Prepaid Insurance Property Plant, and Equipment. C Swan, Capital Salaries. Payable Supplies Property Taxes Payable Unearned Revenue E8. 1RLT1 S 49800 30%600 4500 30,000%! 31200 374800號 76200 45,000 60,000…
Required information [The following information applies to the questions displayed below] The following information pertains to the inventory of Parvin Company for Year 3: Jan. 1 Beginning inventory Apr, 1 Oct. 1 Purchased Purchased 400 units # $17 2,900 units # $22 1,200 units # $23 During Year 3, Parvin sold 3,825 units of inventory at $43 per unit and incurred $18,30% of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent income tax rate. Parvin started the period with cash of $148,700, inventory of $6,800, common stock of $131,000, and retained earnings of $24,500.
Analytical case—complete an income statement and balance sheet usingfinancial ratio data Partially completed financial statements for Whittaker, Inc., follow: WHITTAKER, INC.Income StatementFor the Year Ended December 31, 2014Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ?Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ?Gross profi t . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ?Operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ?Income from operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ?Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ?Income…
Answer ALL the questions in this section. QUESTION 1 Read the information below and answer the following questions INFORMATION The following statement of comprehensive income for the financial year ended 31 December 2021 and the statement of financial position as at 31 December 2021 have been provided by Midas Enterprises: Statement of comprehensive income for the year ended 31 December 2021 1 Sales Cost of sales Gross profit Variable selling and administrative expenses Fixed selling and administrative expenses Net profit R 10 000 000 (5 750 000) 4 250 000 (1 500 000) (500 000) 2 250 000 Statement of financial position as at 31 December 2021 ASSETS Non-current assets Property, plant and equipment Current assets Inventories Accounts receivable Cash EQUITY AND LIABILITIES Equity Current liabilities Accounts payable R 800 000 800 000 3 400 000 1 600 000 600 000 1 200 000 4 200 000 3 760 000 440 000 440 000 4 200 000 Additional information: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. The sales budget…
The comparative statements of Osborne Company are presented here: [{HtmlTableOSBORNE COMPANYIncome StatementsFor the Years Ended December 312014 2013Net sales $1,895,999 $1,755,959Cost of goods sold 1,063,999 1,011,459Gross profit 832,000 744,500Selling and administrative expenses 505,459 484,459Income from operations 326,541 260,041Other expenses and losses Interest expense 23,583 21,583Income before income taxes 302,958 238,458Income tax expense 93,583 74,583Net income $209,375 $163,875\\OSBORNE COMPANYBalance SheetsDecember 31Assets 2014 2013Current assets Cash $60,100 $64,200Debt investments (short-term) 74,000 50,000Accounts receivable 123,259 108,259Inventory 127,583 117,083Total current assets 384,942 339,542Plant assets (net) 663,905 535,205Total assets $1,048,847 $874,747Liabilities and Stockholders' Equity Current liabilities Accounts payable $165,459 $150,859Income taxes payable 45,083 43,583Total current liabilities 210,542 194,442Bonds payable 234,905 214,905Total…
The statements of financial position, as at 31 December 2021, and income statements, for the year ended last 31 December 2021, of Great plc and Small plc are set out below. Great plc bought its shares in Small plc on 1 January last year at which time the latter's share capital was the same as it is currently and the retained earnings balance stood at £35 million. At the time of the acquisition, the fair value of all the assets of Small plc was thought to be the same as that shown in their statement of financial position, except for land whose fair value was thought to be £5 million more than the statement of financial position value. It is believed that there has been no impairment in the value of the goodwill arising on consolidation since 1 January last year. Statements of financial position as at 31 December 2021 Great plc Small plc £m £m ASSETS Non-current assets Property, plant and equipment Land 80 14 Plant 33 20 Vehicles 20 11 133 45 Investment 53 16m shares of S plc 186 45…
Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $15. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $ 1,500,000 150,000 14,700 874,500 422,000 1,200,000 108,000 73,500 60,000 2,500,000 1,419,700 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The January transactions are shown below: a. Received $50,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $33,500 on 1/2; paid $10,000 cash and signed a three-year note for the remainder owed. c. Paid $10,000 for an…
7:01 Done O ezto.mheducation.com AA C Required information [The following information applies to the questions displayed below.] 2 of 4 Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 ipped 2019 2018 2017 Вook Sales Cost of goods sold Gross profit Selling expenses Administrative expenses 265,199 175,331 62,555 39,648 102,203 73,128 $440,530 $337,482 213,289 124,193 46,573 29,698 $234, 200 149,888 84,312 30,914 19,439 50,353 Print Total expenses 76,271 47,922 Income before taxes 33,959 6,894 13,602 9,824 $ 59,526 $ 38,098 Income tax expense erences Net income $ 27,065 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets $ 62,608 $ 41,904 $ 56,015 3,440 63,655 Current assets Long-term investments Plant assets, net 400 116,271 106,290 Total assets $178,879 $148,594 $123,110 Liabilities and Equity Current liabilities Common stock…
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 - - -…