Kingbird, Inc has the following Income Statement (in millions) KINGBIRD, INC Income Statement For the Year Ended December 31, 2023 Net Sales $380 Cost of Goods Sold247 Gross Profit 133 Operating Expenses47 Net Income $86 Using vertical analysis, what percentage is assigned to gross profit 100 35 0 53 8 65 0 Given the following data for thePina Colada Corp Current liabilities $590 Long term debt 530 Common stock 1170 Retained earnings 710 Total liabilities stockholders' equity $3000 How would common stock appear on a common size balance sheet 103 39 31 41 Pina Colada Corp reported net sales of $628800, $728000, and $786000in the years 2021, 2022, and 2023, respectively If 2021 is the base year, what percentage do 2023 sales represent of the base 125 25 80 108 Assume the following sales data for a company 2023 $960000 2022 870000 2021 696000 If 2021 is the base year, what is the percentage increase in sales from 2021 to 2022 25 138 125 38 The following schedule is a display of what type of analysis Amount Percent Current assets $100,000 25 Property, plant, and equipment 300,000 75 Total assets $400,000 100 Ratio analysis Vertical analysis Horizontal analysis Differential analysis The use of alternative accounting methods is not a problem in ratio analysis because the footnotes disclose the method used may be a problem in ratio analysis even if disclosed is not a problem in ratio analysis since eventually all methods will lead to the same end is only a problem in ratio analysis with respect to inventory An income statement would not include discontinued operations income from operations dividends paid other revenue and gains Which one of the following is not a tool in financial statement analysis Horizontal analysis Ratio analysis Circular analysis Vertical analysis If Year 1 sales equal$840, Year 2 sales equal$1008, and Year 3 sales equal$1100, the percentage to be assigned for Year 2 in a trend analysis, assuming that Year 1 is the base year, is 131 120 83 109 Shamrock, Inc has an investment in trading securities of $146000 This investment experienced an unrealized loss of $7600during the current year Assuming a32 tax rate, the amount of this loss that would reported as part of other comprehensive income would be None $146000loss $46720loss $99280loss

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Kingbird, Inc has the following Income Statement (in millions)  KINGBIRD, INC  Income Statement For the Year Ended December 31, 2023 Net Sales $380 Cost of Goods Sold247 Gross Profit 133 Operating Expenses47 Net Income $86 Using vertical analysis, what percentage is assigned to gross profit  100  35 0  53 8  65 0  Given the following data for thePina Colada Corp   Current liabilities $590 Long term debt 530 Common stock 1170 Retained earnings 710 Total liabilities   stockholders' equity $3000 How would common stock appear on a common size balance sheet  103  39  31  41  Pina Colada Corp reported net sales of $628800, $728000, and $786000in the years 2021, 2022, and 2023, respectively  If 2021 is the base year, what percentage do 2023 sales represent of the base  125  25  80  108  Assume the following sales data for a company  2023 $960000 2022 870000 2021 696000 If 2021 is the base year, what is the percentage increase in sales from 2021 to 2022  25  138  125  38  The following schedule is a display of what type of analysis  Amount Percent Current assets $100,000 25  Property, plant, and equipment 300,000 75  Total assets $400,000 100  Ratio analysis Vertical analysis Horizontal analysis Differential analysis The use of alternative accounting methods is not a problem in ratio analysis because the footnotes disclose the method used  may be a problem in ratio analysis even if disclosed  is not a problem in ratio analysis since eventually all methods will lead to the same end  is only a problem in ratio analysis with respect to inventory  An income statement would not include discontinued operations  income from operations  dividends paid  other revenue and gains  Which one of the following is not a tool in financial statement analysis  Horizontal analysis Ratio analysis Circular analysis Vertical analysis If Year 1 sales equal$840, Year 2 sales equal$1008, and Year 3 sales equal$1100, the percentage to be assigned for Year 2 in a trend analysis, assuming that Year 1 is the base year, is 131   120   83   109   Shamrock, Inc has an investment in trading securities of $146000  This investment experienced an unrealized loss of $7600during the current year  Assuming a32  tax rate, the amount of this loss that would reported as part of other comprehensive income would be  None  $146000loss  $46720loss  $99280loss

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Kingbird, Inc.has the following Income Statement (in millions): KINGBIRD, INC. Income Statement For the Year Ended December

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Auditing and Assurance Services An Applied Approach

Kingbird, Inc.has the following Income Statement (in millions): KINGBIRD, INC. Income Statement For the Year Ended December

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Auditing and Assurance Services An Applied Approach

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