use the financial data for Randa merchandings inc. in excercise 13-17 to prepare it's December 31 year-end income statement. ignore the earnings per share section.
The data from excercise 13-17 will be in the photos. thanks for the help Experts at Chegg ive been trying this problem for over a hour and can't get it.
Chapter 13 Anatysis of Finencial Statements 529 Roak Company and Clay Company are similar firms that operate in the same industry. Clay began operations two years ago and Roak started five years ago. In the current year, both companies pay 6% interest on their debt to creditors. The following additional information is available. Exercise 13-16 interpresing financial ratios A1 P3 1. Which company has the better (a) profit margin, (b) asset turnover, and (c) return on asses'? 2. Which company has the better rate of growth in sales? 3. Did the company successfully use financial leverage in the current year, as judged by return on ussets excecding its interest rate on debt, in the case of (a) Roak and (b) Clay? In the current year, Randa Merchandising Ine. sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections of an income statement follows. A. Net sales less operating expense section B. Other unusuat and/or infrequent gains (losses) C. Taxes reported on income (loss) from continuing operations D. Income (loss) from operating a discontinued segment, or gain (loss) from its disposal Indicate where each of the following income-related items for this company appears on its current year income statement by writing the letter of the appropriate section in the blank beside each item. Exercise 13-17n income statement categories A2 Use the financial data for Randa Merchandising Inc. in Exercise 13-17^ to prepare its December 31 yearend income statement. Ignore the earnings per share section. Exercise 13-18a income statement presentation A2 Chapter 13 Anatysis of Finencial Statements 529 Roak Company and Clay Company are similar firms that operate in the same industry. Clay began operations two years ago and Roak started five years ago. In the current year, both companies pay 6% interest on their debt to creditors. The following additional information is available. Exercise 13-16 interpresing financial ratios A1 P3 1. Which company has the better (a) profit margin, (b) asset turnover, and (c) return on asses'? 2. Which company has the better rate of growth in sales? 3. Did the company successfully use financial leverage in the current year, as judged by return on ussets excecding its interest rate on debt, in the case of (a) Roak and (b) Clay? In the current year, Randa Merchandising Ine. sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections of an income statement follows. A. Net sales less operating expense section B. Other unusuat and/or infrequent gains (losses) C. Taxes reported on income (loss) from continuing operations D. Income (loss) from operating a discontinued segment, or gain (loss) from its disposal Indicate where each of the following income-related items for this company appears on its current year income statement by writing the letter of the appropriate section in the blank beside each item. Exercise 13-17n income statement categories A2 Use the financial data for Randa Merchandising Inc. in Exercise 13-17^ to prepare its December 31 yearend income statement. Ignore the earnings per share section. Exercise 13-18a income statement presentation A2
