Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The condensed comparative statements of Uranium Mining Corporation follow: Uranium Mining Corporation Income Statement ($000) For Years Ended December 31 2020 2019 2018 2017 Net

image text in transcribedimage text in transcribedimage text in transcribed

The condensed comparative statements of Uranium Mining Corporation follow: Uranium Mining Corporation Income Statement ($000) For Years Ended December 31 2020 2019 2018 2017 Net sales $1,297 $1,178 $1,102 $1,038 Cost of goods sold 773 644 566 506 Gross profit from sales $ 524 $ 534 $ 536 $ 532 Operating expenses 289 2 45 232 193 Profit $ 235 $ 289 $ 304 $ 339 2016 $992 476 $516 179 $337 2015 $946 451 $495 177 $318 2014 $ 844 385 $459 163 $296 Uranium Mining Corporation Balance Sheet ($000) December 31 2020 2019 2018 2017 2016 2015 2014 $ $ $ $ 58 322 1,094 70 336 809 42 72 308 713 31 45 $ 73 244 610 43 116 796 $1,882 Assets Cash Accounts receivable, net Inventory Other current assets Non-strategic investments Plant and equipment, net Total assets Liabilities and Equity Current liabilities Non-current liabilities Common shares Retained earnings Total liabilities and equity $ 76 219 553 40 116 817 $1,821 77 156 363 29 $ 75 209 477 40 116 746 $1,663 116 1,442 $2,961 1,438 $2,695 1,281 $2,405 664 $1,405 $ $ $ 597 658 405 641 $ 706 750 920 585 $2,961 920 $ 342 316 792 432 $1,882 288 346 660 920 439 $ 302 322 792 405 $1,821 $ 197 272 660 276 $1,405 369 520 $2,695 $2,405 $1,663 Required: Calculate trend percentages for the items of the statements using 2014 as the base year. (Round your final percentage answers to 1 decimal place.) URANIUM MINING CORPORATION Income Statement Trends (in %) For Years Ended December 31, 20142020 2020 2019 2018 2017 2016 2015 2014 Net sales Cost of goods sold Gross profit Operating expenses Profit URANIUM MINING CORPORATION Balance Sheet Trends (in %) December 31, 20142020 2019 2018 2017 2020 2016 2015 2014 Assets Cash Accounts receivable, net Inventory Other current assets Investments Plant and equip., net Total assets Liabilities and Equity Current liabilities Non-current liabilities Common shares Retained earnings Total liabilities and equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Frank Woods Business Accounting An Introduction To Financial Accounting

Authors: Alan Sangster, Lewis Gordon, Frank Wood

15th Edition

1292365439, 9781292365435

Students also viewed these Accounting questions