Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

It's NOT letting me upload a photo. I don't know why. Maybe you can google a photo? I'm sorry. Didn't think this would be such

It's NOT letting me upload a photo. I don't know why. Maybe you can google a photo? I'm sorry. Didn't think this would be such a hassle.

Required Prepare a vertical analysis of both the balance sheets and income statements for 2019 and 2018. Analysis Bal Sheet Analysis Inc Stmt Complete this question by entering your answers in the tabs below. Prepare a vertical analysis of the balance sheets for 2019 and 2018. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .23 should be entered as 23.45).) Analysis Bal Sheet Analysis Inc Stmt $ $ $ $ $ $ $ $ MUNOZ COMPANY Vertical Analysis of Balance Sheets 2019 2018 Amount Percentage of Total Amount Percentage of Total

Assets

Current assets

Cash 16,900 2.95 % 13,900 %

Marketable securities 21,600 7,500

Accounts receivable (net) 56,000 46,600

Inventories 135,600 143,600

Prepaid items 25,900 11,600

Total current assets 256,000 223,200

Investments 27,000 21,100

Plant (net) 271,400 255,900

Land 29,300 25,800

Total long-term assets 327,700 302,800

Total assets 583,700 526,000

Liabilities and stockholders' equity

Liabilities

Current liabilities

Notes payable 16,800 4,200

Accounts payable 113,600 99,800

Salaries payable 19,100 13,900

Total current liabilities 149,500 117,900

Noncurrent liabilities

Bonds payable 99,400 99,400

Other 30,800 26,900

Total noncurrent liabilities 130,200 126,300

Total liabilities 279,700 244,200

Stockholders' equity

Preferred stock (par value $10, 4% cumulative, nonparticipating; 6,000 shares authorized and issued 6)0,000 60,000

Common stock (no par; 50,000 shares authorized; 10,000 shares issued) 60,000 60,000

Retained earnings 184,000 161,800

Total stockholders' equity 304,000 281,800

Total liabilities & stockholders equity 583,700 % 526,000 %

I need 2019 percentages of sale which is first. Then 2018 percentage of sale which is the row of second numbers (going down).

Required Prepare a vertical analysis of both the balance sheets and income statements for 2019 and 2018. Analysis Bal Sheet Analysis Inc Stmt Complete this question by entering your answers in the tabs below. Prepare a vertical analysis of an income statements for 2019 and 2018. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) Analysis Bal Sheet Analysis Inc Stmt $ $ $ $ MUNOZ COMPANY Vertical Analysis of Income Statements 2019 2018 Amount Percentage of Sales Amount Percentage of Sales

Revenues Sales (net) 230,800 % 211,700 %

Other revenues 8,800 5,900

Total revenues 239,600 217,600

Expenses

Cost of goods sold 119,200 102,400 Selling, general, and administrative expense 53,800 49,500

Interest expense 7,000 6,200

Income tax expense 23,000 22,000

Total expenses 203,000 180,100

Net income 36,600 % 37,500 %

I need 2019 percentages of sale which is first. Then 2018 percentage of sale which is the row of second numbers (going down).

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

Behind Closed Doors What Company Audit Is Really About

Authors: V. Beattie, R. Brandt, S. Fearnley

2001 Edition

0333747844, 978-0333747841

More Books

Students also viewed these Accounting questions

Question

6. Describe why communication is vital to everyone

Answered: 1 week ago