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These two excercises please. E18-4 The comparative condensed income statements of Emley Corporation are shown Prepare horizontal and below. vertical analyses (L01) EMLEY CORPORATION Comparative
These two excercises please.
E18-4 The comparative condensed income statements of Emley Corporation are shown Prepare horizontal and below. vertical analyses (L01) EMLEY CORPORATION Comparative Condensed Income Statements For the Years Ended December 31 2017 2016 Net sales $660,000 $600,000 Cost of goods sold 483,000 420,000 Gross profit 177,000 180,000 Operating expenses 125,000 120,000 Net income $ 52,000 $ 60,000 Instructions (a) Prepare a horizontal analysis of the income statement data for Emley Corporation using 2016 as a base, (Show the amounts of increase or decrease.) (b) Prepare a vertical analysis of the income statement data for Emley Corporation in columnar form for both years. E18-5 Suppose Nordstrom, Inc., which operates department stores in numerous states. Compute liquidity ratios and has the following selected financial statement data for a recent year. compare results. (LO) NORDSTROM, INC. Balance Sheet (partial) (in millions) End-of-Year Beginning-of-Year Cash and cash equivalents $ 795 $ 72 Accounts receivable (net) 2,035 1,942 Inventory 898 Prepaid expenses 88 93 Other current assets 238 210 Total current assets $4,054 $3,217 Total current liabilities $2,014 $1,601 900 For the year, net sales were $8,258 and cost of goods sold was $5,328 (in millions) Step by Step Solution
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