Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Blue Spruce Inc. and Swifty Corporation are Canadian fertilizer companies. The following information has been taken from their financial statements for the fiscal years ended

image text in transcribed

image text in transcribed

Blue Spruce Inc. and Swifty Corporation are Canadian fertilizer companies. The following information has been taken from their financial statements for the fiscal years ended December 31. All figures are in millions of dollars. SWIFTY Net sales Gross profit Profit 2019 $3.570.2 2021 59,238.4 5.255.8 3.661.3 2020 $4.504.2 1,932.6 9341 1.022.8 665.0 2021 2020 2019 $9.551 $5.748 $3.900 BLUE SPRUCE Net sales Gross profit Profit 3.512 1.509 1,019 1.289 426 31 Calculate both companies' gross profit margin and profit margin for the years 2019 through 2021. (Round answers to 1 decimal place, eg.52.7%.) SWIFTY 2021 2020 2019 Gross profit margin 96 96 Profit margin 96 96 $6 BLUE SPRUCE 2021 2020 2019 Gross profit margin 96 Profit margin % eTextbook and Media Determine which company had the best performance for profitability in each year. 2021 2020 2019 Gross profit margin Profit margin eTextbook and Media Profit margin eTextbook and Media Using horizontal analysis, calculate the percentage change between the following years: 2019 and 2020; 2020 and 2021 for both companies. (Round answers to 1 decimal place, eg.52.7%.) SWIFTY 2021 2020 Net sales 56 Gross profit 98 98 Profit 96 BLUE SPRUCE 2021 2020 Net sales 96 % Gross profit 96 96 Profit % 9 eTextbook and Media Using the information in the horizontal analysis, identify the company that had the most improvement in net sales, gross proft margin and profit margin in 2020 and 2021. 2021 2020 Net sales > Gross profit > Profit margin

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

Financial Accounting And Reporting

Authors: Barry Elliott, Jamie Elliott

20th Edition

1292399805, 978-1292399805

More Books

Students also viewed these Accounting questions

Question

Explain how labour relations practices differ around the world.

Answered: 1 week ago