cilearn.csuci.edu Search Textbook Solutions I Chegg.com Bingham Inc. is a retail

Question

cilearn.csuci.edu Search Textbook Solutions I Chegg.com Bingham Inc. is a retailer with annual sales of Chatham Corp. Reported Sales Re Page 43.Michaud Ltd, has the following information available for 2011 and 2012: 2011 $2,600,000 2012 $4,000,000 Total Assets Which of the following statements is true regarding horizontal analysis with respect to Michaud? a. It would show total assets has increased by 30 percent. b. It would show total assets has increased by 53.8 percent. c· There is not enough information available to perform horizontal analysis. d. Horizontal analysis can not be performed using total assets. 44.On a common-size income statement, net income should be stated as a percentage of a net income. b. sales revenue. c. gross profit. d. total assets. Partin Manufacturing Partin Manufacturing has the following information available from its 12/31/12 and 12/31/11 financial statements: 12/31/12 S 12,000 Accounts payable S 10,000 Cash

Explanation / Answer

1) Which of the following statements is true regarding horizontal analysis with respect to Michaud?

Solution: It would show total assets has increased by 53.8 percent

Working: =1,400,000 / 2,600,000 = 53.8%

2) On a common-size statement, net income should be stated as a percentage of

Solution: sales revenue

Explanation: These are expressed as a percentage of the value of sales

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