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.