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Using the below financial statements to complete the ratio analysis and statement of Cash Flow questions following the financial statements. Milky Way corp comparative Balance
Using the below financial statements to complete the ratio analysis and statement of Cash Flow questions following the financial statements.
Milky Way corp comparative Balance sheet December 31, 20XX and 20XX (Prior)
Assets | Current | Prior |
Cash | 1,580 | 1,080 |
Account Receivable | 1,300 | 1,680 |
Inventory | 12,420 | 12,000 |
Total Current Assets | 15,300 | 14,760 |
Land | 12,300 | 10,200 |
Equipment | 11,480 | 9,600 |
Accumulated Depreciation | (2,040) | (1,080) |
Total Long-term Assets | 37,040 | 33,480 |
Liabilities | ||
Account Payable | 1,920 | 960 |
Salaries Payable | 5,060 | 4,080 |
Total Current Liabilities | 6,980 | 5,040 |
Long-term Debt | 4,300 | 4,200 |
Total Liabilities | 11,280 | 9,240 |
Stockholders' Equity | ||
Common Stock, 1000 Shares | 10,000 | 10,000 |
Retained Earnings | 15,760 | 14,240 |
Total Stockholders' Equity | 25,760 | 24,240 |
Total Liabilities Stockholders' Equity | 37,040 | 33,480 |
Milky Way Corp Income statement for the year Ended December 31, 20XX
Current year
Sales | 24,720 | |
Cost of goods sold | 11,600 | |
Gross Profit | 13,120 | |
Operating Expense | ||
Depreciation Expense | 960 | |
Salaries Expense | 3,240 | |
Other Expenses | 2,400 | |
Total Operating Expenses | 6,600 | |
Operating Income | 6,520 | |
Interest Expense | (600) | |
Net Income | 5,920 |
Complete a Horizontal analysis on the comparative balance sheet for Milky Way corp for the items listed below> Answer should written in percent form Carried out one decimal place (i.g 45.7%)
Cash
Inventory
Equipment
Accounts Payable
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