Question
Q A Z Proctoring Enabled: MH Lab t Ratio Analysis i 11 & OLOROS H Mc Graw Hill W S X alt The comparative financial
Q A Z Proctoring Enabled: MH Lab t Ratio Analysis i 11 & OLOROS H Mc Graw Hill W S X alt The comparative financial statements prepared at December 31, Year 2. for Goldfish Company showed the following summarized data: Year 1 $285,000 241,000 Statement of Earnings Sales revenue Cost of sales Gross margin Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings J Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Current liabilities (no interest) Non-current liabilities (10% interest) Common shares (6,000 shares) Retained earnings Statement of earnings Sales revenue Cost of sales 3 134 E "One-third was credit sales. +During Year 2, cash dividends amounting to $6,500 were declared and paid. D Required: 1 Using the concept of horizontal analyis, complete the following columns for each item in the preceding comparative financial statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places (i.e., 0.1243 should be entered as 12.43).): D-A $ 4 R F N 5 T G B 6 Y H 16 Year 2 8 7 N $336,240 285,560 50,680 33,460 17,220 5,510 $ 11,710 $ 4,380 18,280 52,460 34,270 $109,390 $ 12,550 39,830 30,000 30,000 27,010 21,800 $109,390 $105,500 47 44,000 30,200 13,000 4,200 $ 9,600 $ 8,800 22,000 46,000 29,000 $105,800 U $ 15,200 38,800 Increase (Decrease) Year 2 over Year 1 Amount Percentage S 234,455 3.455 J 8 < Prev M I 11 of 13 K ( 9 . alt prt sc 1 O Next > ctri harg P end JC < insert pg pq Help Save & Exit delete backspace enter shift num lock 7 4 Submit 1 CE JU 5 8 O UT 2 10 9 D 100% 6 3 +
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