Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2020 2019 2020 2019 Sales $648,000 Gross profit 300,000 $1,940,000 1,022,000 Operating expenses 139,000 347,000 Deprecation expense 10,300 15,800 Interest expense 4,500 18,800 Income tax

2020 2019 2020 2019 Sales $648,000 Gross profit 300,000 $1,940,000 1,022,000 Operating expenses 139,000 347,000 Deprecation expense 10,300 15,800 Interest expense 4,500 18,800 Income tax expense 44.000 148,000 Current assets 245,000 $216,000 809,000 $771,000 Property, plant, and equipment (net) 418,000 383.000 908.000 958,000 Current liabilities 174,000 85,000 461,000 490,000 Long-term liabilities 103.000 180.000 188.000 236,000 Common shares 251.000 214.000 680.000 630,000 Retained earnings 135.000 120,000 417.000 392,000 Dollars Percent Dollars % $ % % % % % % 96 Sales Net Income Depreciation Expense Income Tax Expense Interest Expense Operating Expenses Gross Profit Profit Before Income Tax Cost of Goods Sold Profit from Operations Dollars $ Bimini Corporation Prowel Inc. eTextbook and Media Return on assets % % Asset Turnover times times Return on equity % % -/10 Prepare common-size analysis of the 2020 income statement data for Bimini Corporation and Prowel Inc. (If an amount redue account balance then enter with negative sign. Round percentage values to 1 decimal place, e.g. 15.3.) Income Statement Year Ended December 31, 2020 Bimini Corporation Dollars $ Percent Dollars % $ % %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Scoreboard Your Practice 7 Numbers To Understand Your Design Firms Financials

Authors: Rick J Linley

1st Edition

1039138985, 978-1039138988

More Books

Students also viewed these Accounting questions

Question

What is conservative approach ?

Answered: 1 week ago

Question

What are the basic financial decisions ?

Answered: 1 week ago