5. Trend percentage for Net Sales, cash and account receivable 6. Component percentage for Operating Income, Medical Equipment and Unearned Revenue Round to a whole number percentage EL CAMINO COLLEGE BUSINESS 1B SUMMER 2021 SECTION 3020 Lab 1 CHAPTER 13 1. Financial statement Analysis MAN LAUGH INC. Accounting Information: The Company uses 365 days as days in a year. 2019 2020 Debit Credit Debit Credit Account payable 4.000 8.000 Account Receivable 22,600 18.100 Accumulated Depreciation Medical Equipment 28,000 56,000 Capital Stock (180,000 common stock outstanding) 540,000 540.000 Cash 88.500 125,800 Dividends 44.000 22.000 Income Tax Payable 6,300 12,000 Inventory 250800 210000 Marketable security 40500 504200 Medical Equipment 480,000 540,000 Notes Payable 48,000 248,000 Office Supplies 16,000 16,000 Prepaid Rent 24,000 50,000 Retained Earnings 220,680 540,250 Unearned Medical Fees 119,420 81,850 TOTAL 966,400 966,400 1,486,100 1,486,100 640,000 780,000 Gross Profit on sales Income before income tax Net income Net income as a percentage of net sales 530,000 351,000 590,000 420.200 15% 12% Blanshard, CPAMBA 1 OF 2