Prepare a horizontal analysis of the following comparative income statement of The Ruby Group. Why did net
Question:
Prepare a horizontal analysis of the following comparative income statement of The Ruby Group.
Why did net income increase by a higher percentage than net sales revenue during 2023?
Transcribed Image Text:
1 2 3 The Ruby Group Income Statement For the Years Ended December 31, 2023 and 2022 4 (amounts in thousands) 5 2023 2022 6 Sales revenues $ 458,800 $ 400,000 7 Less: Cost of goods sold 209,820 195,000 8 Gross profit 248,980 $ 205,000 9 Less: Operating expenses 95,670 90,000 10 Operating income $ 153,310 $ 115,000 11 Less: Interest expense 4,250 3,125 12 Income before income taxes 149,060 $ 111,875 13 Less: Income tax expense 16,420 11,875 14 Net income 15 132,640 $ 100,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business 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 Slate Group. Why did net income increase by a higher percentage than net sales revenue during 2017? The Slate Group...
-
Prepare a horizontal analysis of the following comparative income statement of Spellbound Designs. Why did net income increase by a higher percentage than net sales revenue during 2012? Spellbound...
-
Discussion Post: Suppose you were considering investing in a Series I Bond. The bond will pay 5% interest. However, bond A compounds annually, and bond B compounds semiannually. Provide a detailed...
-
Based on the definition of gross income in 61, related regulations, and judicial rulings, what are the three criteria for recognizing taxable income?
-
46. N drops of mercury of equal radii and possessing equal charges combine to form a big spherical 47. drop. Then the capacitance of the bigger drop compared to each individual drop is: (1) N times...
-
Based on information in this chapter, recommend the most effective HR administrative approach or approaches for the owner of a small business with fewer than 50 employees and infrequent staffing...
-
What are some of the problems related to output that the committee is experiencing? What suggestions do you have for improving output to the committee? How can the budget constraints of the zoo be...
-
Describe the operating activities of each company noting similarities and difference between COCA COLA & PEPSICO. Identify two economy wide factors and industry wide factors that could impact on the...
-
Prepare a comparative common-size income statement for Jubilee Corporation. To an investor, how does the current year compare with the prior year? Explain your reasoning. 1 2 3 Jubilee Corporation...
-
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility). 1....
-
Electric power is to be generated in a hydroelectric power plant that receives water at a rate of 70 m3/s from an elevation of 65 m using a turbinegenerator with an efficiency of 85 percent when...
-
1. What kind of system (water wet or oil wet) is characterized by the following three things? a. Limited oil production after water breakthrough b. Good recoveries c. Low Krw at residual oil...
-
5. (5 pts) Briefly explain, from a thermal perspective why there is an "optimal" spacing between the inner and outer glass panes in double-paned windows. 6. (5 pts) Consider a double pane window...
-
Consider the relationship between Retained Earnings that is reported on the balance sheet and Net Income that is reported on the Income Statement and select the correct answer: Question 1 options:...
-
What is the goal of the NCCI? Group of answer choices To ensure claims are complete before paid To ensure correct coding and control inappropriate payments due to coding errors. To ensure Claims are...
-
For f(x)=5x-6 and g(x) = 6x +5, find an equation of the given function. fg (fg)(x) = (Simplify your answer.)
-
Two smooth coins A and B, each having the same mass, slide on a smooth surface with the motion shown, determine the speed of each coin after collision if they move off along the dashed paths. Hint:...
-
1. What are some current issues facing Saudi Arabia? What is the climate for doing business in Saudi Arabia today? 2. Is it legal for Auger's firm to make a payment of $100,000 to help ensure this...
-
You should be able to answer this question after studying Unit 8. An object falls and is acted on by its weight and air resistance. Its velocity v (in metres per second) at time t (in seconds) can be...
-
(8%) Problem 6: An airplane flies horizontally at a speed of 535 km/h and drops a crate that falls to the horizontal ground below. Neglect air resistance. X= 50% Part (a) If the altitude of the plane...
-
An 75.9 kg person holds onto a rope and sits on a 71 incline. The rope is anchored at the top of the incline. If they release the rope, what is the magnitude of the net force on the person when the...
Computational Intelligence In Telecommunications Networks 1st Edition - ISBN: 1351836064 - Free Book
Study smarter with the SolutionInn App