Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

table[[Income Statement,Balance Sheet],[,2022,2021,Assets,2022,2021],[Net sales,19,800,20,375,table[[Cash and],[securities]],360,325],[table[[Cost of good],[sold]],15,048,16,724,table[[Accounts],[receivable]],540,509],[Depreciation,1,782,1,834,Inventories,270,292],[EBIT,2,970, -1,817 ,table[[Total current],[assets]],1,170,1,126],[table[[Interest],[expense]],67,61,Net fixed assets,3,330,3,284],[ Tax(20%) ,581,352,Total assets,4,500,4,410],[Net Income,2,322,1,404,Liabilities and Ow,ers' Equity,],[,,Accounts payable,540,498],[,,Short-term notes,315,337],[,.,table[[Total current],[liabilities]],855,835],[,,Long-term debt,556,505],[,,Common stock,957,1,015],[,0,Retained earnings,2,132,2,055],[,,table[[Total

\\\\table[[Income Statement,Balance Sheet],[,2022,2021,Assets,2022,2021],[Net sales,19,800,20,375,\\\\table[[Cash and],[securities]],360,325],[\\\\table[[Cost of good],[sold]],15,048,16,724,\\\\table[[Accounts],[receivable]],540,509],[Depreciation,1,782,1,834,Inventories,270,292],[EBIT,2,970,

-1,817

,\\\\table[[Total current],[assets]],1,170,1,126],[\\\\table[[Interest],[expense]],67,61,Net fixed assets,3,330,3,284],[

Tax(20%)

,581,352,Total assets,4,500,4,410],[Net Income,2,322,1,404,Liabilities and Ow,ers' Equity,],[,,Accounts payable,540,498],[,,Short-term notes,315,337],[,.,\\\\table[[Total current],[liabilities]],855,835],[,,Long-term debt,556,505],[,,Common stock,957,1,015],[,0,Retained earnings,2,132,2,055],[,,\\\\table[[Total liabilities and],[owners' equity]],4,500,4,410]]\ If you were asked to prepare the common-size financial statements for Globex Inc. using the information above, what would be the percentage point change between 2021 and 2022 on Long-term Debt?\ 0.68 percentage\ point increase\ 0.90 percentage\ point increase\ 0.79 percentage\ point increase\ 0.68 percentage\ point decrease\ 0.90 percentage\ point decrease

image text in transcribed
If you were asked to prepare the common-size financial statements for Globex Inc. using the information above, what would be the percentage point change between 2021 and 2022 on Long-term Debt? 0.68 percentage point increase 0.90 percentage point increase 0.79 percentage point increase 0.68 percentage point decrease 0.90 percentage point decrease

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_2

Step: 3

blur-text-image_step3

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

School Finance Elections

Authors: Don E. Lifto, Bradford J. Senden, Daniel A. Domenech

2nd Edition

ISBN: 1607091488, 978-1607091486

More Books

Students also viewed these Finance questions

Question

3. What may be the goal of the team?

Answered: 1 week ago