Answered step by step
Verified Expert Solution
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 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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started