Complete the horizontal analysis of the following comparative income statement? Mile Wide Organic Woolens, Inc. Comparative Income
Question:
Transcribed Image Text:
Mile Wide Organic Woolens, Inc. Comparative Income Statement For Years Ending December 31, 2012 and 2013 Increase (decrease Amount 2013 2012 Percent Revenue Gross sales Sales returns and allowances Net sales Cost of goods sold Beginning inventory, January I Purchases Ending inventory, December 31 Cost of goods sold Gross profit from sales Operating expenses Salary Insurance Utilities Rent Depreciation Total operating expenses Net income $219,827 $205,852 8.512 7983 42,816 97,523 43,182 40,512 94,812 42,521 28.940 800 1.700 3,600 2,000 27.000 750 1,580 3,000 2.400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 25% (4 reviews)
Net sales for 2013 219827 8512 211315 Cost of goods sold for 2013 42816 97523 43182 97157 Gross prof...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Question Posted:
Students also viewed these Finance questions
-
Prepare a horizontal analysis of the following comparative income statement of Sunny Day Designs. Why did net income increase by a higher percentage than net sales revenue during 2012? Sunny Day...
-
Prepare a horizontal analysis of the following comparative income statement of The Ruby Group. The Ruby Group Income Statement For the Years Ended December 31, 2017 and 2016 (amounts in thousands)...
-
Prepare a horizontal analysis of the following comparative income statement of The Slate Group. Why did net income increase by a higher percentage than net sales revenue during 2017? The Slate Group...
-
It is possible to construct a nonparametric tolerance interval that is based on the extreme values in a random sample of size n from any continuous population. If p is the minimum proportion of the...
-
What is the purpose of fund accounting?
-
Which of the six standard trigonometric functions have infinitely many local minima and infinitely many local maxima but no absolute maximum and no absolute minimum over their whole domain?
-
Water at \(20^{\circ} \mathrm{C}\) is flowing down a \(3.0 \mathrm{~m}\) long vertical plate at a volumetric flow rate per meter of plate width of \(q=0.000005 \mathrm{~m}^{2} / \mathrm{s}\)....
-
The taxable wages and withheld taxes for Hamilton Company (EIN 00-0001462), semiweekly depositor, for the first quarter of 2013 follow. a. Complete Schedule B of Form 941 on page 3-64 for the first...
-
On May 28, 2024, Pesky Corporation acquired all of the outstanding common stock of Harman, Incorporated, for $450 million. The fair value of Harman's identifiable tangible and Intangible assets...
-
Vessels A and B contain water under pressures of 276 kPa and 138 kPa, respectively. What is the deflection height of the mercury, h, in the differential manometer gauge in Figure 5?
-
Houston Technology, Inc, is a public company with 2,350,000 shares of stock outstanding. As of the year's end the stock was selling for $9.83 per share and had total net income of $1,290,000 and...
-
Find the operating ratio for Mile Wide for 2012 and 2013.
-
If the daily marginal cost for a product is MC = 2x + 100, with fixed costs amounting to $200, find the total cost function for each day. Cost, revenue, and profit are in dollars and x is the number...
-
Use the following stock price data to calculate: (a) Return for SBUS over the period without dividends, and with dividends (b) Return for GOOG over the period (c) If you have 30% of your portfolio in...
-
Sheridan Corporation sells three different models of a mosquito "zapper." Model A12 sells for $57 and has unit variable costs of $39.90. Model B22 sells for $114 and has unit variable costs of...
-
A railroad car with a mass of 63,000 kg coasts along a level track at 1.3 m/s. It hits a stationary car with a mass of 50,000 kg. The cars connect together when they collide. How fast are they moving...
-
Indigo Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $162.000 Purchases (gross)...
-
Define sensitive data and data regulations Know which sensitive data regulations you are subject to Decide who can access the information Conduct regular backups Document any processes using...
-
The points (-12, 6), (0, 8), and (8,-4) lie on the graph of y = f(x). Determine three points that lie on the graph of y = g(x). (x) ft-=(x)
-
The maximum pressure that can be developed for a certain fluid power cylinder is 15.0 MPa. Compute the required diameter for the piston if the cylinder must exert a force of 30 kN.
-
An obligation of $10 000 is to be repaid by equal payments due in 90 days and 180 days. What is the amount of the equal payments if money is worth 6.5% and the focal date is today?
-
Payments of $4000 each due in four, nine, and eleven months from now are to be settled by two equal payments due today and twelve months from now. What is the amount of the equal payments if interest...
-
Three debts, the first for $1000 due two months ago, the second for $1200 due in two months, and the third for $1400 due in four months, are to be paid by a single payment today. How much is the...
-
D Question 34 The following are the assets and liabilities of a government security dealer - Assets: $ 150 million 30 day Treasury bills S 275 million 91 day Treasury bills S 90 million 180 day...
-
A project manager at COMSOFT corporation has collected statistics on the organization's software development process. She has the size of each project in number of lines of code for the past 20...
-
Calculate the purchase price of the $1,000 face value bond using the information given below. (Do not round the intermediate calculations. Round your final answer to 2 decimal places.) Issue date Dec...
Study smarter with the SolutionInn App