QUESTION 4E18.4E18.4 (LO 2)Prepare vertical analysis.Operating data for Joshua Corporation are presented below.20202019Sales revenue$800,000$600,000Cost of goods soldSelling expenses520,000408,000120,00072,000Administrative expenses60,00048,000Income tax exхреnse30,00024,000Net income70,00048,000InstructionsPrepare a schedule showing a vertical analysis for 2020 and 2019.

Name: QUESTION 4E18.4E18.4 (LO 2)Prepare vertical analysis.Operating data f
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Description: QUESTION 4E18.4E18.4 (LO 2)Prepare vertical analysis.Operating data for Joshua Corporation are presented below.20202019Sales revenue$800,000$600,000Cost of goods soldSelling expenses520,000408,000120,00072,000Administrative expenses60,00048,000Incom

Vertical analysis means it is like a income statement as part of financial statement . It analyse…

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E18.4 (LO 2) Prepare vertical analysis. Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $800,000 $600,000 Cost of goods sold Selling expenses Administrative expenses 520,000 408,000 120,000 72,000 60,000 48,000 Income tax exреnse 30,000 24,000 Net income 70,000 48,000 nstructions repare a schedule showing a vertical analysis for 2020 and 2019.

E18.4 (LO 2) Prepare vertical analysis. Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $800,000 $600,000 Cost of goods sold Selling expenses Administrative expenses 520,000 408,000 120,000 72,000 60,000 48,000 Income tax exреnse 30,000 24,000 Net income 70,000 48,000 nstructions repare a schedule showing a vertical analysis for 2020 and 2019.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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B. Below is the Statement of Comprehensive Income of Q & A Trading Company: Percentage 2020 P1,939,500 900,000 1,039,500 445,500 37,575 P 556,425 2019 Percentage Revenue Cost of Goods Sold Gross Profit Selling and General Experses Other Experses Net Income P1,674,675 843,975 830,700 409,725 30,825 P 390,150 Requirements: Prepare a vertical aralysis for Q & A Trading Compary.
Problem 1: Comparative income statements for 2020 and 2019 follow. Sales Cost of Sales Gross Profit Operating Expenses Operating Income Interest Expense Earnings Before Tax Income Taxes Net Income 2020 $9,434,000 7,075,400 $2,358,600 $2,201,360 1,367,690 1,365,060 $ 990,910 $836,300 157,500 126,000 $ 833,410 $ 710,300 400,000 317,200 $ 433,410 $ 393,100 2019 $7,862,000 5,660,640 Required: 4 a. Prepare a vertical common-size analysis of this statement for each year, using sales as the base. b. Comment briefly on the changes between the two years, based on the vertical common-size statement.
Use the given statement of comprehensive income below in answering the question. DEF Company, Income Statement 2021 2020 Sales P10,200.00 P9,600.00 Cost of Goods Sold P3,000.00 P2,600.00 Gross Profit P7,200.00 P7,000.00 Operating Expenses P2,400.00 P2,200.00 Operating Profit P4,800.00 P4,800.00 Interest Expense P900.00 P800.00 Earnings before tax P3,900.00 P4,000.00 Income Tax P1,560.00 P1,600.00 Net Profit P2,340.00 P2,400.00 How many percent of the sales is the operating expenses in 2021 and 2020? A 8.82% and 8.33% 70.59% and 72.92% 29.41% and 27.08% 23.53% and 22.92%
Operating data for Joshua Corporation are presented as follows: Net Sales Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense Net Income 2022 800,000 520,000 120,000 60,000 30,000 70,000 Instructions Prepare a schedule showing a vertical analysis for 2022 and 2021. Net Sales Cost of Goods Sold Gross Profit Selling Expenses Your Answers: FYI: Format the percent cols to one decimal place. Ex 99.9% 2022 Administrative Expenses Total Operating Expenses Income Before Income Taxes Income Tax Expense Net Income 2021 600,000 408,000 72,000 48,000 24,000 48,000 Amount 800,000 520,000 280,000 120,000 60,000 180,000 100,000 30,000 70,000 Percent 100.0% 2021 Amount Percent 600,000 100.0% 408,000 192,000 72,000 48,000 120,000 72,000 24,000 48,000
Use the given statement of comprehensive income below in answering the question. DEF Company, Income Statement 2021 2020 Sales P10,200.00 P9,600.00 Cost of Goods Sold P3,000.00 P2,600.00 Gross Profit P7,200.00 P7,000.00 Operating Expenses P2,400.00 P2,200.00 Operating Profit P4,800.00 P4,800.00 Interest Expense P900.00 P800.00 Earnings before tax P3,900.00 P4,000.00 Income Tax P1,560.00 P1,600.00 Net Profit P2,340.00 P2,400.00 What is the percent change of net profit? А -3.5% В 12.5% C) -12.5% -2.5%
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