K The Verifine Department Stores, Inc. chief executive officer (CEO) has asked you to compare the...
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K The Verifine Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Read the requirements. Net Sales Revenue Cost of Goods Sold Gross Profit Requirement 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. Begin by preparing a vertical analysis for Verifine for its income statement. (Round the percent of total amounts to one decimal place, XX, and do not enter the %. For example, enter 10.1% as 10.1.) Verifine Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Operating Fynancae $ 784,000 529,200 254,800 161,504 Percent of Total % % % nit te *** % M #1 Chapters F:15 - M:3 Data table Verifine Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Expenses Net Income Print ▶ $ Verifine 784,000 529,200 254 800 161,504 93.296 3,920 89,376 Done Industry Average 100.0 % 65.8 34.2 19.7 04 14.1% < Quest Data table Verifine Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net Other Assets Total Assets Current Liabilities Print $ $ S Verifine 317.720 123,140 5,640 23,500 470,000 219.960) 106 220 Done Industry Average 70.9% 23.6 0.8 47 100.0 % 48.1 % 16.6 I Xith th nter th Data table Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net Other Assets Total Assets Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity Total Liabilities and Stockholders' Equity $ Verifine 317,720 123,140 5,640 23,500 470,000 S 219,960 106,220 326,180 143,820 $ 470,000 Average 70.9% 23.6 0.8 4.7 100.0 % 48.1 % 16.6 64.7 35.3 100.0 % 2 Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the e CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. me icon to view the income statement.) (Click the icon to view the balance sheet.) quirements. nt 1. Prepare a vertical analysis for Verifine for both its eparing a vertical analysis for Verifine for its income sta as 10.1.) Verifine Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Revenue ods Sold Fynoncoc 784,000 529,200 254,800 161,504 Percent of Total % % % % Requirements 4 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. 2. Compare the company's profit performance and financial position with the average for the industry. Print Done - X mple K The Verifine Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Read the requirements. Net Sales Revenue Cost of Goods Sold Gross Profit Requirement 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. Begin by preparing a vertical analysis for Verifine for its income statement. (Round the percent of total amounts to one decimal place, XX, and do not enter the %. For example, enter 10.1% as 10.1.) Verifine Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Operating Fynancae $ 784,000 529,200 254,800 161,504 Percent of Total % % % nit te *** % M #1 Chapters F:15 - M:3 Data table Verifine Department Stores, Inc. Income Statement Compared with Industry Average Year Ended December 31, 2024 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Expenses Net Income Print ▶ $ Verifine 784,000 529,200 254 800 161,504 93.296 3,920 89,376 Done Industry Average 100.0 % 65.8 34.2 19.7 04 14.1% < Quest Data table Verifine Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net Other Assets Total Assets Current Liabilities Print $ $ S Verifine 317.720 123,140 5,640 23,500 470,000 219.960) 106 220 Done Industry Average 70.9% 23.6 0.8 47 100.0 % 48.1 % 16.6 I Xith th nter th Data table Current Assets Property, Plant, and Equipment, Net Intangible Assets, Net Other Assets Total Assets Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity Total Liabilities and Stockholders' Equity $ Verifine 317,720 123,140 5,640 23,500 470,000 S 219,960 106,220 326,180 143,820 $ 470,000 Average 70.9% 23.6 0.8 4.7 100.0 % 48.1 % 16.6 64.7 35.3 100.0 % 2 Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the e CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. me icon to view the income statement.) (Click the icon to view the balance sheet.) quirements. nt 1. Prepare a vertical analysis for Verifine for both its eparing a vertical analysis for Verifine for its income sta as 10.1.) Verifine Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Revenue ods Sold Fynoncoc 784,000 529,200 254,800 161,504 Percent of Total % % % % Requirements 4 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. 2. Compare the company's profit performance and financial position with the average for the industry. Print Done - X mple
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Related Book For
Horngrens Accounting
ISBN: 978-0133855388
10th Canadian edition Volume 2
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
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