Complete the following using the information from the Study Questions and Problems at the end of Chapter 3, on pages 145 - 147, as indicated below:

Question 3.11- Using the information provided in the problem on page 145, calculate/answer the following:

a. Sales growth percentage from 2014 to 2015.

b. Sales growth percentage from 2015 to 2016.

c. Cost of goods sold percentage for 2014.

d. Cost of goods sold percentage for 2015.

e. Cost of goods sold percentage for 2016.

f. Gross profit margin percentage for 2014.

g. Gross profit margin percentage for 2015.

h. Gross profit marginpercentage for 2016.

i. Operating profit margin percentage for 2014.

j. Operating profit margin percentage for 2015.

k. Operating profit margin percentage for 2016.

l. Average tax rate percentage for 2014.

m. Average tax rate percentage for 2015.

n. Average tax rate percentage for 2016.

o. Net profit margin percentage for 2014.

p. Net profit margin percentage for 2015.

q. Net profit margin percentage for 2016.

r - t. Answer the multiple choice questions using the information you calculated in parts a - k.

Question 3.12- Prepare a multiple-step income statement for JackRabbit, Inc. from the single-step statement provided on Page 146 and answer the following questions using the multiple-step statement.

a. The gross profit.

b. Operating profit.

c. Other income (expense) total.

d. Pre-tax income.

Question 3.13- Prepare common-size income statements for December 31, 2016, 2015, and 2014 using the income statements for Yarrick Company on Page 146 of your text and answer the following questions:

a. Cost of goods sold percentage for 2014.

b. Cost of goods sold percentage for 2015.

c. Cost of goods sold percentage for 2016.

d. Gross profit percentage for 2014.

e. Gross profit percentage for 2015.

f. Gross profit percentage for 2016.

g. Selling, general and administrative expenses percentage for 2014.

h. Selling, general and administrative expenses percentage for 2015.

i. Selling, general and administrative expenses percentage for 2016.

j. Research and development percentage for 2014.

k. Research and development percentage for 2015.

l. Research and development percentage for 2016.

m. Operating profit percentage for 2014.

n. Operating profit percentage for 2015.

o. Operating profit percentage for 2016.

p. Income tax expense (benefit) percentage for 2014.

q. Income tax expense (benefit) percentage for 2015.

r. Income tax expense (benefit) percentage for 2016.

s. Net profit percentage for 2014.

t. Net profit percentage for 2015.

u. Net profit percentage for 2016.

v - x. Answer the multiple choice questions using the information from the common-size income statement information.

Question 3.14- Calculate the gross profit margins for tickets and concessions for all three years (2014, 2015, 2016). Calculate an overall gross profit margin for LA Theatres for all three years using the information provided on page 147 and answer the following questions:

a. Gross profit margin for tickets for 2014.

b. Gross profit margin for tickets for 2015.

c. Gross profit margin for tickets for 2016.

d. Gross profit margin for concessions for 2014.

e. Gross profit margin for concessions for 2015.

f. Gross profit margin for concessions for 2016.

g. Total gross profit margin for 2014.

h. Total gross profit margin for 2015.

i. Total gross profit margin for 2016.

j - l. Answer the multiple choice questions using the information you calculated in parts a - i above.

146 CHAPTER 3 Income Statement and Statement of Stockholders Equity Moon Company Income Statements for the Years Ended December 31, 2016, 2015 and 2014 2016 2015 2014 Net sales $220,000 $196,000 $150,010 Cost of goods sold 169,000 147,000 108,000 Gross profit $ 51,000 $ 49,000 $ 42.000 Operating expenses 26,000 25,000 20.000 Operating profit $ 25,000 $ 24,000 $ 22 000 Income taxes 7,800 7.500 7,000 Net income $ 17 200 $ 16,500 $ 15,000 3.12. Prepare a multiple-step income statement for Jackrabbit Inc. from the following single step statement. Net sales $1,840,000 Gain on sale of equipment 15,000 Interest income 13,000 1,868,000 Costs and expenses Cost of goods sold 1,072,000 Selling expenses 270,000 General and administrative expense 155,000 Depreciation 24,000 Equity losses 9.000 Interest expense 16,000 Income tax expense 96,000 Net income 5 226,000 3.13, Income statements for Yarrick Company for the years ending December 31. 2016, 215 and 2014 are shown below. Prepare a common-size income statement and aralyar profitability of the company. Yarrick Company Income Statements for the Years Ending December 31, 2016, 2015, and 2014 (in millions) 2016 2015 5014 Net sales 5217 $155 $134 Cost of goods sold 135 84 72 Gross profit $ 99 $ 71 Sales, general, and administrative expenses 42 31 54 Research and development 33 Operating profit $ 19 (5 31) Income tax expense (benefit) Net profitCHAPTER 3 Income Statement and Statesret Stockholders Equity 147 1.14. LA Theatres Inc. has two distinct revenue sources, ticket and arcemien minus The bike ing information from LA Theatres Inc. income statements for the past there yours is avalable (in millions) 2016 2015 2014 Ticket revenue 51.731 Concessions revenue $1,6-22 $1.120 792 Total revenue 657 411 Cost of goods sold-tickets $ 951 5 854 Cost of goods sold-concessions Total cost of goods sold 5 925 Gross profit (a) Calculate grows profit margins for tickets and concesskins for all three years Calculate an overall gross profit margin for LA Theatres Inc. for all three years. (b) Analyze the changes in gross profit margin for all three years. 3.15. Writing Skills Problem Income statements are presented for the Of Corporation how the year ending Decorhas JL 2016, 2015, and 2014. Elf Corporation Income Statements for the Year Ending December 31, 2016, 2015, and 2014 (in millions) 2016 Sales $700 Cost of goods sold Gross profit Operating expenses Administrative Advertising and marketing Operating profit 5210 Interest expense Earnings before tax 5130 Tax expense (5014) Net income Required: Write a one-paragraph analysis of Ell Corporation's period. To the Student: The focus of this exercise describing the numbers and trends. Analysis inval for study, relating the pieces, making comparisons. d cause and effect. 1.16. Research Problem Locate the income statement of a company in each of the lo ceuticals technology, retailer- groceries, and autonut for help in locating a company's financial statements) Calculate the grosspandit mar operating profit margin, and net profit margin for all cakuleed and explaining the difference ferences you find between the think the profit margins differ. 3.17. Internet Problem Look up the FASB home page on the Internet at the folks Find the list of technical projects that are currently on the boar the projects that will affect the income starr the income statement may be affects