2018 Assignments 2 Spring 2018 Homework: Chapter 15 Homework Score: 0.09 of 1 pt

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2018 Assignments 2 Spring 2018 Homework: Chapter 15 Homework Score: 0.09 of 1 pt 3 of 4 (3 complete) Hw Score: 49.49%, 1.98 of 4 pts & P15-28A (similar to) Help The Verifine Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the income statement and balance sheet as well as the industry average data for retailers. B(Click the looh to view the income statement) B(Click the icon to view the balance sheet) 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. 2. Begin by preparing a vertical analysis for verifine for its income statement (Round the percent of total amounts to one decinal place, XX%.) Income Statement 31, 2016 S 783,000 529.308 Net Sales Cost of Goods Sold Enter any number in the edit fields and then click Check Answer Clear All

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2. Industry comparison

1. Vertical analysis for Verifine Income Statement % of Total Net Sales 783000 100 Cost of goods sold 529308 67.6 Cost of goods sold/Net Sales Gross Profit 253692 32.4 Gross Profit/Net Sales Operating Expense 162081 20.7 Operating Expense/Net Sales Operating Income 91611 11.7 Operating Income/Net Sales Other Expense 7830 1 Other Expense/Net Sales Net Income 83781 10.7 Net Income/Net Sales Balance Sheet % of Total Current Asset 283080 67.4 Current Asset/Total Assets Fixed Asset 109200 26 Fixed Asset/Total Assets Intangible 7140 1.7 Intangible/Total Assets Other Assets 20580 4.9 Other Assets/Total Assets Total Assets 420000 100 Current Liability 194880 46.4 Current Liability/Total Liability and Equity Long Term Liability 93240 22.2 Long Term Liability/Total Liability and Equity Total Liability 288120 68.6 Total Liability/Total Liability and Equity Share Holder Equity 131880 31.4 Share Holder Equity/Total Equity and Equity Total Liability and Equity 420000 100

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