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The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. Let's see

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The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. Let's see whether these changes are reflected in the income statement of Fawkes Manufacturing for the year ended December 31, 2018 (amounts in billions). Revenues Costs of Purchased Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income Required: 2018 $258 2017 $ 218 148 117 78 88 32 9 13 $ 23 $ 13 1. Compute the gross profit percentage for each year. Assuming the change from 2017 to 2018 is the beginning of a sustained trend. is Fawkes likely to earn more or less gross profit from each dollar of sales in 2019? 2. Compute the net profit margin for each year. Did Fawkes do a better or worse job of controlling expenses other than the costs of crude oil and products in 2018 relative to 2017? 3. Fawkes reported average net fixed assets of $370 billion in 2018 and $368 billion in 2017. Compute the fixed asset turnover ratios for both years. Did the company better utilize its investment in fixed assets to generate revenues in 2018 or 2017? 4. Fawkes reported average stockholders' equity of $180 billion in 2018 and $176 billion in 2017. The company has not issued preferred stock. Compute the return on equity ratios for both years. Did the company generate greater returns for stockholders in 2018 or 2017? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 1-a. Compute the gross profit percentage for each year. Note: Round percentage values to 1 decimal place. 1-b. Assuming the change from 2017 to 2018 is the beginning of a sustained trend, is Fawkes likely to earn more or less gross profit from each dollar of sales in 2019? 1-2017 gross profit percentage 1a 2018 gross profit percentage 16. Likely to eam in 2019? Show less & Required 1 Required 2 > The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. Let's see wh these changes are reflected in the income statement of Fawkes Manufacturing for the year ended December 31, 2018 (amou billions). Revenues Costs of Purchased Crude oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income Required: 2018 2017 $258 $218 148 117 78 88 32 13 9 $23 $13 1. Compute the gross profit percentage for each year. Assuming the change from 2017 to 2018 is the beginning of a sustaine is Fawkes likely to earn more or less gross profit from each dollar of sales in 2019? 2. Compute the net profit margin for each year. Did Fawkes do a better or worse job of controlling expenses other than the c crude oil and products in 2018 relative to 2017? 3. Fawkes reported average net fixed assets of $370 billion in 2018 and $368 billion in 2017. Compute the fixed asset turnov- for both years. Did the company better utilize its investment in fixed assets to generate revenues in 2018 or 2017? 4. Fawkes reported average stockholders' equity of $180 billion in 2018 and $176 billion in 2017. The company has not issuec preferred stock. Compute the return on equity ratios for both years. Did the company generate greater returns for stockho 2018 or 2017? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 2-a. Compute the net profit margin for each year. Note: Round percentage values to 1 decimal place. 2-b. Did Fawkes do a better or worse job of controlling expenses other than the costs of crude oil and products in 2018 relative to 20177 2-a 2017 net profit margin percentage 2-2018 net profit margin percentage 26. Controlling expenses in 2018 vs 2017? < Required 1 Required 3 > Show less & 5042 (Algo) Comput The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. Let's see whet these changes are reflected in the income statement of Fawkes Manufacturing for the year ended December 31, 2018 (amount- billions). 2018 2017 Revenues $258 $218 ped Costs of Purchased Crude 011 and Products Other Operating Costs 148 117 78 88 32 13 9 $23 $ 33 ook int rint D rences Income before Income Tax Expense Income Tax Expense Net Income Required: 1. Compute the gross profit percentage for each year. Assuming the change from 2017 to 2018 is the beginning of a sustained is Fawkes likely to earn more or less gross profit from each dollar of sales in 2019? 2. Compute the net profit margin for each year Did Fawkes do a better or worse job of controlling expenses other than the cos crude oil and products in 2018 relative to 2017? 3. Fawkes reported average net fixed assets of $370 billion in 2018 and $368 billion in 2017 Compute the fixed asset turnover for both years. Did the company better utilize its investment in fixed assets to generate revenues in 2018 or 2017? 4. Fawkes reported average stockholders' equity of $180 billion in 2018 and $176 billion in 2017 The company has not issued preferred stock. Compute the return on equity ratios for both years. Did the company generate greater returns for stockhold 2018 or 2017? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 3-a. Fawkes reported average net fixed assets of $370 billion in 2018 and $368 billion in 2017. Compute the fixed asset turnover ratios for both years. Note: Round your answers to 2 decimal places. 3-b. Did the company better utilize its investment in fixed assets to generate revenues in 2018 or 2017? 3-a 2017 Fixed asset turnover 3-a 2018 Fixed asset turnover 3-b. Investment better utilized in 2018 or 2017? Show less A 350.27 Other Operating Costs 2018 2017 pped Revenues Costs of Purchased Crude Oil and Products $258 $218. 148 117 78 88 32 13 9 ook $23 $13 nt nt ences Income before Income Tax Expense Income Tax Expense Net Income Required: 1. Compute the gross profit percentage for each year. Assuming the change from 2017 to 2018 is the beginning of a sustained is Fawkes likely to earn more or less gross profit from each dollar of sales in 2019? 2. Compute the net profit margin for each year. Did Fawkes do a better or worse job of controlling expenses other than the co crude oil and products in 2018 relative to 2017? 3. Fawkes reported average net fixed assets of $370 billion in 2018 and $368 billion in 2017 Compute the fixed asset turnove for both years. Did the company better utilize its investment in fixed assets to generate revenues in 2018 or 2017? 4. Fawkes reported average stockholders' equity of $180 billion in 2018 and $176 billion in 2017. The company has not issued preferred stock. Compute the return on equity ratios for both years. Did the company generate greater returns for stockhol 2018 or 2017? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 4-a. Fawkes reported average stockholders' equity of $180 billion in 2018 and $176 billion in 2017. The company has not Issued preferred stock. Compute the return on equity ratios for both years. Note: Round percentage values to 1 decimal place.. 4-b. Did the company generate greater returns for stockholders in 2018 or 20177 4-a 2017 Return on equity (ROE) Percentage 4-a 2018 Return on equity (ROE) Percentage 4-b. Greater returns generated in 2018 or 2017? < Required 3 Show less

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