B. The vertical analysis indicates a: FAVORABLE OR UNFAVORABLE trend?

.

Determining fixed asset's book value

The balance in the equipment account is $3,150,000, and the balance in the accumulated depreciationequipment account is $1,669,500. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below

1. What is the book value of the equipment? Round your answer to the nearest dollar.

   : $_____________

2. Does the balance in the accumulated depreciation account mean that the equipment's loss of value is $1,669,500?

   : YES/NO

3. because depreciation is an allocation of the: COST/LOSS OF VALUE of the equipment to the periods benefiting from its use.

Cornea Company Income Statements For the Years Ended December 31 20Y9 2018 Fees earned Expenses $1,609,000 (872,000) $737,000 $1,320,000 (760,000) $560,000 Net income This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Prepare a vertical analysis of Cornea Company's income statements. Round your answers to one decimal place. Cornea Company Income Statements For the Years Ended December 31 20Y9 2018 Amount Percent Amount Percent % Fees earned $ 1,609,000 Expenses (872,000) Net income $ 737,000 % $ 1,320,000 % (760,000) % $ 560,000 % %