Compute four ratios that measure the ability to earn profits for Gardener Farm Supplies Ltd., whose comparative
Question:
Did the company's operating performance improve or deteriorate during 2014?
Transcribed Image Text:
GARDENER FARM SUPPLIES LTD Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 $174,000 Net sales Cost of goods sold Gross margin Selling and general expenses Income from operations Interest expense Income before income tax Income tax expense Net income $195,000 101,500 93,500 50,200 43,300 25,400 17,900 91,750 82,250 40,000 42,250 12,050 30,200 7,550 4475 $ 13425 $ 22,650 Additional data a. Average total assets b. Average common shareholders' equity c. Preferred dividends d. Number of common shares outstanding 2014 102,000 25,000 2013 S230,000 2000 98,000 5,000 25,000 5,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (17 reviews)
a Rate of return on net sales 2014 13425 69 195000 2013 22650 130 ...View the full answer
Answered By
Simon kingori
I am a tier-one market researcher and content developer who has been in this field for the last six years. I’ve run the freelancing gamut; from market research, data mining and SEO/SMM to copywriting, Content Development, you name it, I’ve done it. I’m extremely motivated, organized and disciplined – you have to be to work from home. My experience in Freelancing is invaluable- but what makes me a cut above the rest is my passion to deliver quality results to all my clients- it’s important to note, I've never had a dissatisfied client. Backed by a Masters degree in Computer Science from MOI university, I have the required skill set and burning passion and desire to deliver the best results for my clients. This is the reason why I am a cut above the rest. Having taken a Bsc. in computer science and statistics, I deal with all round fields in the IT category. It is a field i enjoy working in as it is dynamic and new things present themselves every day for research and exploration.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 978-0132690089
9th Canadian Edition volume 2
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
Question Posted:
Students also viewed these Managerial Accounting questions
-
Compute four ratios that measure the ability to earn profits for Harmon Decor, Inc., whose comparative income statements follow: Additional data: Did the companys operating performance improve or...
-
Compute four ratios that measure Variline's ability to earn profits. The company's comparative income statement follows. The data for 2014 are given as needed. Did the company's operating performance...
-
Compute four ratios that measure Lansbury's ability to earn profits. The company's comparative income statement follows. The data for 2010 are given as needed. Did the company's operating performance...
-
If you place a charged object next to an uncharged object thatis a conductor, If you place a charged object next to an uncharged object thatis a conductor, A) The force depends on whether the charge...
-
Describe an activity-based responsibility accounting system. How does it differ from financial-based responsibility accounting?
-
For fluids with small viscosity coefficients, please explain why the viscous effect in the flow near the wall cannot be ignored.
-
On November 1, 2020, Drucker Co. acquired the following investments in equity securities measured at FV-NI. Kelly Corporation- 500 shares of common stock (no-par) at \(\$ 60\) per share. Keefe...
-
The adjusted trial balance columns of the worksheet for Thao Company, owned by D. Thao, are as follows. Instructions (a) Complete the worksheet by extending the balances to the financial statement...
-
Oriole Corporation manufactures safes-large mobile safes, and large walk-in stationary bank safes. As part of its annual budgeting process, Oriole is analyzing the profitability of its two products....
-
Given: E(R1) = 0:10 E(R2) = 0:15 E(1) = 0:03 E(2) = 0:05 Calculate the expected returns and expected standard deviations of a two-stock portfolio in which Stock 1 has a weight of 60 percent under the...
-
Compute the dollar change and the percentage change in Navin Ltd.'s working capital each year during 2013 and 2014. Is this trend favourable or unfavourable? Total current assets Total current...
-
Evaluate the common shares of Payment Software Inc. as an investment. Specifically, use the three share ratios to determine whether the shares have increased or decreased in attractiveness during the...
-
The larger the calculated t value, the more likely we are to a. Retain the null hypothesis. b. Reject the null hypothesis. c. Conclude that our result is not statistically significant.
-
Why is labor union membership growing in some countries and shrinking in others?
-
What are the major forms of NTBs?
-
Why might a country adopt a VER?
-
What are the three levels of international strategy? Why is it important to distinguish among the levels?
-
Why is it useful for an importer to seek out an advance tariff classification from the U.S. Customs Service?
-
Show the factorization and solve by Doolittles method. 2x 1 + x 2 + 2x 3 = 0 -2x 1 + 2x 2 + x 3 = 0 x 1 + 2x 2 - 2x 3 = 18
-
If someone's Z-score for a variable was 0.67. Their score is a significant extreme score. Their score is not significant. O Their score is slightly above average. O Their score is an outlier.
-
In the absence of restrictive provisions, what are the basic rights of stockholders of a corporation?
-
Why is a preemptive right important?
-
Why is a preemptive right important?
-
. 32. LO.5 (Product profitability) Rice Inc. manufactures lawn mowers and garden trac- tors. Lawn mowers are relatively simple to produce and are made in large quantities. Garden tractors are...
-
The master budget at Monroe Manufacturing last period called for sales of 44,000 units at $62 each. The costs were estimated to be $46 variable per unit and $544,000 fixed. During the period, actual...
-
. ing Extension An important analytical and problem-solving skill is the ability to adapt and transfer patterns learned in one setting to other situations. This chapter explained how card through a...
Study smarter with the SolutionInn App