Question
1. Ralph corporation reported the following revenue data: Year Net revenue (in millions) 2016 $7,100 2017 $7,418 2018 $7,128 2019 $7,668 Use 2016 as the
1. Ralph corporation reported the following revenue data:
Year Net revenue (in millions)
2016 $7,100
2017 $7,418
2018 $7,128
2019 $7,668
Use 2016 as the base year. The trend percentage in 2019 is close to
A. 113%
B. 108%
C. 93%
D. 103%
2. Ralph company reported the following data (in millions) for the past two years:
2019 2018
Net revenue $380 $290
Cost of goods sold $145 $175
Gross profit $235 $115
Operating expense $150 $45
Operating income $85 $70
In a vertical analysis of 2019, the operating expense percentage is closest to
A. 39%
B. 333%
C. 22%
D. 253%
3. Incredible Industries began 2018 with accounts receivable, inventory, and prepaid expenses totaling $ 48,000 and its total current liabilities totaling$ 39,000.At the end of the year, these same current assets totaled $49,000, while its total current liabilities totaled $50,000. Net income for the year was $89,000. Included in net income were a 6,000 loss on the sale of land and depreciation expense of$5,000.
Show how Incredible should report cash flows from operating activities for 2018.The company uses the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.)
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