Rylander Corporations condensed comparative income statements and balance sheets for 2014 and 2013 follow. Required 1. Prepare
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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
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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
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Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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