Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tarjee Office Plus has the following selected financial information for sales, gross profit, net income, current assets, current liabilities, total assets, total liabilities, and stockholders'

image text in transcribed

image text in transcribed

Tarjee Office Plus has the following selected financial information for sales, gross profit, net income, current assets, current liabilities, total assets, total liabilities, and stockholders' equity (all in thousands of dollars) for the past two years: 2020 Sales 2021 $7,085 3,607 $6,603 1,531 225 645 $82 668 Gross profit Net income Current assets: Cash Accounts receivable Inventory Total current assets Total assets Current liabilities Total liabilities Total stockholders' equity $70 576 960 996 $1,746 $1,606 2,392 2,903 471 427 1,205 2,196 1,187 707 (a 1) Using the selected data, prepare a horizontal analysis for Tarjee Office Plus. (Round percentage change answers to 1 decimal place, e.g. 5.2%. If amount and percentage are a decrease show the numbers as negative, eg.-55,000, -5.2% or (55,000), (5.2%).) Percent Change 2021 2020 Change Sales $7,085 $6,603 $ % Gross profit 3,607 1,531 $ % Net income 645 225 $ % Current assets: Cash $82 $70 $ % Accounts receivable 668 576 $ % Inventory 996 960 $ % Total current assets $1,746 $1,606 $ % Total assets 2,392 2,903 $ % Current liabilities 471 427 $ % Total liabilities 1,205 2,196 $ % Total stockholders' equity 1,187 707 $ %

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

CISA Certified Information Systems Auditor All In One Exam Guide

Authors: Peter H. Gregory

4th Edition

1260458806, 978-1260458800

More Books

Students also viewed these Accounting questions