Listed below are the results of Rulon Candies' operations for 1999 and 2000. (Assume 4,000 shares of
Question:
Listed below are the results of Rulon Candies' operations for 1999 and 2000. (Assume 4,000 shares of outstanding stock for both years.) Sales..... Utilities expenses Employee salaries.. Advertising expenses Income tax expense Interest expense. Cost of goods sold Interest revenue 2000 1999 $300,000 $350,000 15,000 8,500 115,000 110,000 10,000 20,000 9,000 36,500 25,000 15,000 115,000 85,000 10,000 10,000 1. Prepare a comparative income statement for Rulon Candies, Inc., for the years ended December 31, 2000 and 1999. Be sure to include figures for gross mar- gin, operating income, income before taxes, net income, and earnings per share. 2. Interpretive Question: What advice would you give Rulon Candies, Inc., to improve its profitability for the year 2001?
Step by Step Answer:
Survey Of Accounting
ISBN: 9780538846172
1st Edition
Authors: James D. Stice, W. Steve Albrecht, Earl Kay Stice, K. Fred Skousen