Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following Tableau Dashboards show the total of all income and expense transactions for Barksdale Corporation. Use the visualizations to answer the following questions: Required:

The following Tableau Dashboards show the total of all income and expense transactions for Barksdale Corporation. Use the visualizations to answer the following questions:image text in transcribedimage text in transcribedRequired:

  1. Construct a multi-step income statement using the data provided.
  2. If a customer returned merchandise inventory with a sales price of $500 and cost to the company of $200, which of the following appropriately describes the impact that this transaction would have on the income statement?
  3. the managers of Barksdale Corporation are interested in examining controllable operating expenses, should income tax expense be included in the same pie chart as the other expenses provided?
  4. The gross margin percentage is incomplete for Barksdale Corporation in the provided Tableau Dashboard. What should the gross margin percentage be for Barksdale Corporation?
  5. Which company performed the best based on the return on sales ratio? image text in transcribedConstruct a multi-step income statement using the data provided
contruct an income statement using the data provided. i started the table but its not done. fill out the yellow spots
Return to que Barksdale Income Barksdale Expenses Account 250K 240,000 200K Wages Expense 70,000 150K 100K Cost of Goods Sold 120,000 Transportation-out 5,000 50K 8,000 Income Tax Expense 10,000 OK Net Sales Gain on Sale of Land Common Size Metrics Company 0.6 0.4 0.2 0.0 Return on Sales Percen... Gross Margin Percenta.. 0.08 0.06 0.04 0.02 0.00 Abbington Inc. Barksdale Corporation Brooks Inc. Lemmings Inc. Stockton Co. $ 240,000 (120,000) $ 120,000 Net Sales Cost of Goods Sold Gross Margin Less Operating Expenses: Wages Expense Transportation-out fill out . $ 70,000 5,000 Space $ 75,000 45,000 $ 8,000 Total Operating Expenses Operating Income Non-operating Items: Gain on Sale of Land Net Sales Total Non-operating items Income Before Income Taxes Income Tax Expense Net Income $ 8,000 53,000 (10,000) 43000 x > Return to que Barksdale Income Barksdale Expenses Account 250K 240,000 200K Wages Expense 70,000 150K 100K Cost of Goods Sold 120,000 Transportation-out 5,000 50K 8,000 Income Tax Expense 10,000 OK Net Sales Gain on Sale of Land Common Size Metrics Company 0.6 0.4 0.2 0.0 Return on Sales Percen... Gross Margin Percenta.. 0.08 0.06 0.04 0.02 0.00 Abbington Inc. Barksdale Corporation Brooks Inc. Lemmings Inc. Stockton Co. $ 240,000 (120,000) $ 120,000 Net Sales Cost of Goods Sold Gross Margin Less Operating Expenses: Wages Expense Transportation-out fill out . $ 70,000 5,000 Space $ 75,000 45,000 $ 8,000 Total Operating Expenses Operating Income Non-operating Items: Gain on Sale of Land Net Sales Total Non-operating items Income Before Income Taxes Income Tax Expense Net Income $ 8,000 53,000 (10,000) 43000 x >

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

Brinks Modern Internal Auditing A Common Body Of Knowledge

Authors: Robert R. Moeller

7th Edition

0470293039, 978-0470293034

More Books

Students also viewed these Accounting questions