Village Shipping Inc. Income Statement Horizontal Analysis For the years ending December 31, 2014 and December 31, 2015 2014 2015 475,000 265,000 210,000 Sales Cost of goods sold Gross profit 500,000 269,000 231,000 Taxes Office expenses Total expenses Net Income Wages Repairs Rent 163,000 4,150 12,000 17,930 587 154,000 5,800 13,000 16,940 1,023 190,763 19,237 197,667 33,333

Village Shipping Inc. Income Statement Horizontal Analysis For the years ending December 31, 2014 and December 31, 2015 2014 2015 475,000 265,000 210,000 Sales Cost of goods sold Gross profit 500,000 269,000 231,000 Taxes Office expenses Total expenses Net Income Wages Repairs Rent 163,000 4,150 12,000 17,930 587 154,000 5,800 13,000 16,940 1,023 190,763 19,237 197,667 33,333

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
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…
"Keeper Corporation’s income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow.Keeper CorporationIncome StatementFor the Year ended June 30, 2014Sales$234,000Cost of goods sold156,000Gross margin$78,000Operating expenses45,000Operating income$33,000Interest expense2,800Income before income taxes$30,200Income taxes expense12,300Net income$17,900Keeper CorporationComparative Balance SheetsJune 30, 2014 and 201320142013AssetsCash$69,900$12,500Accounts receivable (net)21,00026,000Inventory43,40048,400Prepaid expenses3,2002,600Furniture55,00060,000Accumulated depreciation—furniture(9,000)(5,000)Total assets$183,500$144,500Liabilities and Stockholders’ equityAccounts payable$13,000$14,000Income taxes payable1,2001,800Notes payable (long-term)37,00035,000Common stock, $10 par value115,00090,000Retained earnings17,3003,700Total liabilities and stockholders’ equity$183,500$144,500Keeper issued a $22,000 note payable for purchase of…
Selected comparative statement data for Oriole Company are presented below. All balance sheet data are as of December 31. 20222021Net sales$1,165,000 $1,125,000Cost of goods sold705,000 645,000Interest expense20,000 15,000Net income154,945 145,000Accounts receivable145,000 125,000Inventory105,000 100,000Total assets785,000 700,000Preferred stock (6%)205,000 200,000Total stockholders’ equity635,000 525,000 Compute the following ratios for 2022. (Round answers to 1 decimal place, e.g. 1.8 or 2.5%) (a)Profit marginenter the profit margin in percentages %(b)Asset turnoverenter the asset turnover in times times(c)Return on assetsenter the return on assets in percentages %(d)Return on common stockholders’ equityenter the return on common stockholders' equity in percentages %
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