Check my work Income statements for Finch Company for Year 3 and Year 4 follow FINCH COMPANY Income Statements Year 4 Sales 5201,500 Cost of goods sold 142,200 Selling expenses 20.900 Administrative expenses 12,000 Interest expense 3.800 Total expenses $17.900 Income before taxes 22,600 Income taxes expense 5,500 Net Income $ 17,100 Year 3 $181,500 120,200 18,900 14,000 5.300 $158.900 22,60 3,600 $ 19,000 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year, Complete this question by entering your answers in the tabs below. Required A Required B Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place..., 0.234 should be entered as 23.4). HH Next > Check my work Complete this question by entering your answers in the tabs below. Required A Required Perform a horizontal analysis, showing the percentage change in each Income statement component between Year 3 and Year 4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place (10,0234 should be entered as 23.4).) FINCH COMPANY Horizontal Analysis of Income Statements Percentago Change over Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income foss) % Required > Complete this question by entering your answers in the tabs below. Required A Requindd B Perform a vertical analysis, showing each income statement component as a percentage of sales for each year, (Percentages may not add exactly due to rounding. Round your percentage answers to 1 decimal place. (le, 0.234 should be entered as 23.4).) FINCH COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales Year 4 Sales Year 3 Sales % % Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Required A Regulred Next BN Prev 1 of 3 The balance sheet for Solomon Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $232,000 767,000 $999,000 $141,000 453,000 594,000 405,000 $999,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio % Help Save & Exit Submit B Check my work Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders. Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,650 8,420 13,460 10.750 169,500 (12, 100) $204.680 $ 8,960 3,400 4,200 21,360 113,400 53,360 $204,680 The average number of common stock shores outstanding during Year 3 was 860 shores. Net Income for the year was $15,600. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23,45.) per share Current ratio b. Earnings per share Quick (acid-test ratio d. Return on investment Return on equity Debt to equity ratio Next Check my work Income statements for Finch Company for Year 3 and Year 4 follow FINCH COMPANY Income Statements Year 4 Sales 5201,500 Cost of goods sold 142,200 Selling expenses 20.900 Administrative expenses 12,000 Interest expense 3.800 Total expenses $17.900 Income before taxes 22,600 Income taxes expense 5,500 Net Income $ 17,100 Year 3 $181,500 120,200 18,900 14,000 5.300 $158.900 22,60 3,600 $ 19,000 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year, Complete this question by entering your answers in the tabs below. Required A Required B Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place..., 0.234 should be entered as 23.4). HH Next > Check my work Complete this question by entering your answers in the tabs below. Required A Required Perform a horizontal analysis, showing the percentage change in each Income statement component between Year 3 and Year 4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place (10,0234 should be entered as 23.4).) FINCH COMPANY Horizontal Analysis of Income Statements Percentago Change over Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income foss) % Required > Complete this question by entering your answers in the tabs below. Required A Requindd B Perform a vertical analysis, showing each income statement component as a percentage of sales for each year, (Percentages may not add exactly due to rounding. Round your percentage answers to 1 decimal place. (le, 0.234 should be entered as 23.4).) FINCH COMPANY Vertical Analysis of Income Statements Percentage of Percentage of Sales Year 4 Sales Year 3 Sales % % Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Required A Regulred Next BN Prev 1 of 3 The balance sheet for Solomon Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $232,000 767,000 $999,000 $141,000 453,000 594,000 405,000 $999,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio % Help Save & Exit Submit B Check my work Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders. Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,650 8,420 13,460 10.750 169,500 (12, 100) $204.680 $ 8,960 3,400 4,200 21,360 113,400 53,360 $204,680 The average number of common stock shores outstanding during Year 3 was 860 shores. Net Income for the year was $15,600. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23,45.) per share Current ratio b. Earnings per share Quick (acid-test ratio d. Return on investment Return on equity Debt to equity ratio Next
