Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Do a vertical analysis of the income statement please Income Statement for year 2011 230,000 2010 200,000 Net Sales Revenue (all Credit Sales) 165,000 150,000

Do a vertical analysis of the income statement please
image text in transcribed
Income Statement for year 2011 230,000 2010 200,000 Net Sales Revenue (all Credit Sales) 165,000 150,000 Cost of Goods Sold 65,000 50,000 Gross Profit Salaries & admin Expense Depreciation Expense Income before Tax 9,500 14,500 41,000 10,000 14,000 26,000 11,000 5,000 Tax expense Net Income Shares Outstanding Stock Price 30,000 120,000 16.00 21,000 120,000 12.00 $ Balance sheet @ year and 2011 2010 Current Assets Cash Accounts Receivables, net (2009 ending 20,000) Inventory (2009 ending 25,000) Total Current Assets 33,000 33,000 27,000 93,000 20,000 14,000 20,000 54,000 60,000 Property Plant & Equipment Accumulated depreciation 78,000 (24,000) (29,000) Total Assets 124,000 108,000 Accounts Payable Income Tax Payable Total Current Liabilities Bonds Payable Total Liabilities 29,000 7,000 36,000 27,000 63,000 15,000 8,000 23,000 33,000 56,000 Common Stock Retained Earnings Total Liabilities and Shareholders Equity 18,000 43,000 124,000 14,000 38,000 108,000

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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions