Rylander Corporations condensed comparative income statements and balance sheets for 2014 and 2013 follow. Required 1. Prepare
Question:
Required
1. Prepare schedules showing the amount and percentage changes from 2013 to 2014 for the comparative income statements and the balance sheets. (Round to one decimal place.)
2. Prepare common-size income statements and balance sheets for 2013 and 2014. (Round to one decimal place.)
3. Comment on the results in requirements 1 and 2 by identifying favorable and unfavorable changes in the components and composition of thestatements.
Transcribed Image Text:
Rylander Corporation Comparative Income Statements For the Years Ended December 31,2014 and 2013 2014 2013 Net sales Cost of goods sold Gross margin Operating expenses $6,553,600 4,177,600 $2,376,000 $6,292,800 4,016,800 $2,276,000 S 953,600 894,400 $1,848,000 528,000 131,200 S396,800 124,800 S 272,000 3.40 1,036,000 846,400 $1,882400 393,600 78,400 315,200 113,600 S201,600 2.52 Selling expenses Administrative expenses Total operating expenses Income f Interest expense Income before income taxes Income taxes expense Net income Earnings per share operations Rylander Corporation Comparative Balance Sheets December 31, 2014 and 2013 2014 2013 Assets Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets 162,400 471,200 1,149,600 1,500,000 $3,283,200 S 81,600 458,400 1,189,600 1440,000 $3,169,600 Accounts payable Notes payable (short-term) Bonds payable Common stock, $10 par value Retained earnings Total liabilities and stockholders' equity Liabilities and Stockholders' Equity $ 535,200 400,000 800,000 800,000 748,000 $3,283,200 954400 800,000 800,000 615,200 $3,169,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
1 Rylander Corporation Comparative Income Statements For the Years Ended December 31 2014 and 2013 Increase or Decrease 2014 2013 Amount Percentage Net sales 6553600 6292800 260800 41 Cost of goods so...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
Question Posted:
Students also viewed these Managerial Accounting questions
-
The Korbin Company comparative income statements and balance sheets for years 20X4, 20X3, and 20X2 included the following items: Required: Express the income statement data in common size...
-
Comparative income statements and balance sheets for Merck ($millions) follow: Required a. Use the following ratios to prepare a projected income statement, balance sheet, and statement of cash flows...
-
Comparative income statements and balance sheets for Coca-Cola are shown below ($ millions). Required: a. Use the following ratios to prepare a projected income statement, balance sheet, and...
-
In determining an employee's net pay, which of the following taxes would be deducted? a. FUTA taxes b. SUTA taxes c. FICA taxes d. All of these choices are correct.
-
Studies indicate that the earth's vegetative mass, or biomass for tropical woodlands, thought to be about 35 kilograms per square meter (kg/m2), may in fact be too high and that tropical biomass...
-
In Section 14.4 two case studies (i.e., Polyface Farm and Interface, Inc.) are used to illustrate the rewards and challenges facing companies that attempt to implement the basic principles associated...
-
In 2009 the United States was in a deep recession. What would be the expected effect of a recession on accounts receivable turnover ratios?
-
Let's investigate the possibility of heteroskedasticity in time-series data by looking at a model of the black market for U.S. dollars in Brazil that was studied by R. Dornbusch and C. Pechman. In...
-
1. What are the challenges facing microfinance institutions in Myanmar? 2. Evaluate the credit risk management and mitigation used in Daung's current loan products? Case Study link -...
-
Allie has bought a new apple orchard. The orchard has a single file of trees, numbered from 1 to N. Each tree has a certail number of ripe apples. Allie has a rule she wants to follow. She wants to...
-
Information concerning Krall Corporations operations during 2014 follows. a. Administrative expenses, $90,000 b. Cost of goods sold, $420,000 c. Extraordinary loss from an earthquake (net of taxes,...
-
Koz Corporation engaged in the transactions that follow. Opposite each transaction is a ratio and space to indicate the effect of each transaction on the ratio. Required Show that you understand the...
-
Jakob (1949) suggests the following correlation be used for square tubes in a liquid cross-flow situation: Water (k = 0.61 W/m K, Pr = 6) at 50C flows across a 1-cm square tube with a Reynolds...
-
On January 3 0 , Pier 5 Inc. issued 5 0 0 shares of $ 1 par common stock for $ 1 5 per share. On June 3 0 , Pier 5 Inc. reacquired 5 0 shares of common stock at $ 1 2 per share and immediately...
-
Peruse your library or internet and select a company's annual report that you find compelling and interesting. There are many annual reports readilyviewable online and some of them are digital which...
-
How does the concept of a foreign key serve as a pivotal mechanism in relational database design, facilitating the establishment of referential integrity ?
-
How do emerging technologies, such as blockchain and distributed ledger technology, disrupt traditional database paradigms by introducing decentralized consensus mechanisms, immutable data storage,...
-
How do database management systems employ advanced indexing structures, such as B-trees and hash tables, to optimize query performance and facilitate efficient data retrieval?
-
Choose from the following list of terms and phrases to best complete the following statements. a. Cash b. Cash equivalents c. Outstanding check d. Liquidity e. Cash over and short f. Voucher system...
-
Which provision could best be justified as encouraging small business? a. Ordinary loss allowed on $ 1244 stuck. b. Percentage depletion. c. Domestic production activates deductions. d. Interest...
-
What is the difference between your primary audience and your secondary audience?
-
Identify whether each of the following accounts would be listed in the companys Post-Closing Trial Balance. A. Accounts Payable B. Advertising Expense C. Dividends D. Fees Earned Revenue E. Prepaid...
-
Assuming the following Adjusted Trial Balance, create the Post-Closing Trial Balance that would result, after all closing journal entries were made and posted: Adjusted Trial Balance Cash Prepaid...
-
What are the four entries required for closing, assuming that the Income Summary account is used?
-
The following are a few Christian viewpoints on Debt "Debt is considered slavery " Proverbs 22:7, I Corinthians 7:23 "Debt was considered a Curse", Deut 28: 1,2,12, Deut 28: 15, 43, 44 "Debt Presumes...
-
11. A stone is carved into a cylindrical shape, where the thickness of the cylinder is much smaller than the radius which is 28 cm. This cylindrical stone has a mass of 2.8 kg and is spinning at a...
-
10. A 0.270 kg ball has a radius of 1.35 cm. It is spinning about an axis that runs through the center of the ball. If the angular velocity of the spinning ball is 10.4 rad/s clockwise, what is the...
Study smarter with the SolutionInn App