Kimmel, Accounting, be ??02-chanter13 Here are comperative statement data for Me
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Question
Kimmel, Accounting, be ??02-chanter13 Here are comperative statement data for Me noe Compelrand Parten Comper . two oor oetrtory, Al bedence sheet dsts re?of December 31. 2017, .rd Dember 31, 2016 cet or goods sol# 1,004,000 Interest expense Review Score S,00D 583,495 559214 149,171 142,246 942,972 850 250, 225,203 118,722 135,209 3.2 4,203 Long com Fabilties 204,042 11,100 53,020 4,750 Plant assats (o Curment labibes Common stack, $10 895,000 8500 214,80 24,800 308,703 252,405 8,192 53,606 Presere·vertical analysa of the 2017 ner e staterert date for Ivarhee Company and Phero ah Oor arry, (Re und aff ratios to 1 decinal pece.g. 2.9%.) Year Ended 1,065,000 L,064,D00 29,000 16,000 ,100 5,000 $195,200 CEck i you would like to Show Work for this questions Opon 5han Wark Artempts: 0 of 3 used RLAExplanation / Answer
Answers
(respective amount / Net Sales) x 100
Example:
Ivanhoe company Operating expenses percentage = $ 252000/$1865000 = 13.5%
Ivanhoe company
Pharoah Company
Dollars
Percent
Dollars
Percent
Net Sales
$ 18,65,000.00
100.0%
$ 5,95,000.00
100.0%
Cost of Goods Sold
$ 10,64,000.00
57.1%
$ 2,79,000.00
46.9%
Gross Profits
$ 8,01,000.00
42.9%
$ 3,16,000.00
53.1%
Operating expenses
$ 2,52,000.00
13.5%
$ 84,000.00
14.1%
Income from operations
$ 5,49,000.00
29.4%
$ 2,32,000.00
39.0%
Other expenses
Intrst expenses
$ 8,000.00
0.4%
$ 1,800.00
0.3%
Income before income taxes
$ 5,41,000.00
29.0%
$ 2,30,200.00
38.7%
Income taxes expense
$ 70,900.00
3.8%
$ 35,000.00
5.9%
Net Income (Loss)
$ 4,70,100.00
25.2%
$ 1,95,200.00
32.8%
Ivanhoe company
Pharoah Company
Dollars
Percent
Dollars
Percent
Net Sales
$ 18,65,000.00
100.0%
$ 5,95,000.00
100.0%
Cost of Goods Sold
$ 10,64,000.00
57.1%
$ 2,79,000.00
46.9%
Gross Profits
$ 8,01,000.00
42.9%
$ 3,16,000.00
53.1%
Operating expenses
$ 2,52,000.00
13.5%
$ 84,000.00
14.1%
Income from operations
$ 5,49,000.00
29.4%
$ 2,32,000.00
39.0%
Other expenses
Intrst expenses
$ 8,000.00
0.4%
$ 1,800.00
0.3%
Income before income taxes
$ 5,41,000.00
29.0%
$ 2,30,200.00
38.7%
Income taxes expense
$ 70,900.00
3.8%
$ 35,000.00
5.9%
Net Income (Loss)
$ 4,70,100.00
25.2%
$ 1,95,200.00
32.8%
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