Data for Mariner Designs, Inc., follow: Requirements 1. Prepare a horizontal analysis of the comparative income statement
Question:
Requirements
1. Prepare a horizontal analysis of the comparative income statement of Mariner Designs, Inc. Round percentage changes to one decimal place.
2. Why did 2012 net income increase by a higher percentage than net salesrevenue?
Transcribed Image Text:
MARINER DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2012 and 2011 2012 $ 431,000 S 372,350 2011 Net sales revenue Expenses: Cost of goods sold Selling and general expenses Other expense Total expenses S 200,000 S 187,550 99,000 91,050 8,350 6,850 S 307.350S 285,450 S 123.650 S 86,900 Net income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
Req 1 Mariner Designs Inc Comparative Income Statemen...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Question Posted:
Students also viewed these Accounting questions
-
Prepare a horizontal analysis of the comparative income statement for Alton Co. for the years ending December 31, 2015, and December 31, 2016. (Round to the nearest hundredth of a percent as needed.)...
-
Prepare a horizontal analysis of the comparative income statement for Abbie Co. for the years ending December 31, 2020, and December 31, 2019. (Round to the nearest hundredth of a percent as needed.)...
-
Prepare a horizontal analysis of the following comparative income statement of Mariner Designs. Why did net income increase by a higher percentage than net sales revenue during2014? Mariner Designs...
-
A. Discuss the following conceptual model/framework of Orem's Self-Care Theory CONDITIONING FACTORS (12 MARKS) Orem's Self-Care Theory Conceptual Framework SELF-CARE AGENCY SELF-CARE DEFICIT NURSING...
-
The financial statements of Maple Leaf Foods Inc. reported the following for the years ended December 31, 2011, 2010, and 2009. Financial Statement Data (in thousands of dollars)...
-
If a line slants downward from left to right, then which of the following describes its slope? (a) Positive. (b) Zero. (c) Negative. (d) Undefined.
-
Review your answers to the previous two questions. Comment on the persuasiveness of evidence from each test. Explain any factors that would affect your assessment. Fellowes and Associates Chartered...
-
Mr. LN. Vestor is retired and slowly selling some of his assets to supplement his retirement income. He wants to have some idea of how much tax he is going to owe for 2020 on the asset sales that...
-
Requirement 2. Compute the total costs of the units (gallons) (a) completed and transferred out to the Packaging Department, and (b) in the Blending Department ending Work-in-Process Inventory....
-
As part of the engagement team for the audit of JA Tire Manufacturing for the year ended December 31, 2019, you are responsible for auditing the sales and collection cycle. If you have not done so...
-
Data for Beverage Enterprises follows: Requirement 1. Compute the dollar amount of change and the percentage of change in Beverage Enterprises' working capital each year during 2011 and 2012. What do...
-
Magic Oaks Realty's net revenue and net income for the following five-year period, using 2010 as the base year, follow: Requirements 1. Compute trend analysis for net revenue and net income. Round to...
-
Consider the baseball problem in Example 5 when there is linear drag (Exercise 37). Assume a drag coefficient k = 0.12, but no gust of wind. a. From Exercise 37, find a vector form for the path of...
-
How does the intricate regulation of ventilation, perfusion, and gas exchange within the lungs maintain acid-base balance and oxygen homeostasis in response to metabolic demands and environmental...
-
Malika charges $6.20 per hour for babysitting. She babysits 6 hours each week. She spends $15 per week and puts the rest of her earnings in a savings account. After 12 weeks, Malika's grandparents...
-
Theresa adds $1,000 to her savings account on the first day of each year. Marcus adds $1,000 to his savings account on the last day of each year. They both earn 6.5 percent annual interest. What is...
-
How do respiratory pathogens, including bacteria, viruses, and fungi, evade host immune defenses and disrupt normal respiratory physiology to cause infections such as pneumonia, bronchitis, and...
-
Compare and contrast some of the contextual factors that might arise for a social worker who is working in a public, governmental organization versus one who works in the same role at a privately...
-
Nationwide Companys chief financial officer resigns. After a personnel search, an investigation, and an interview, the board of directors hires Anton. Anton turns out to be dishonest. Nationwides...
-
The manager of a local convenience store is expanding his line of small toy items. To price these new items, the manager is looking at the prices being charged by competing retailers in his area. For...
-
For the following two independent cases, show the cash flows from operating activities section of the statement of cash flows for year 2 using the indirect method.
-
The Management Discussion and Analysis section of an annual report addresses corporate performance for the year, and sometimes uses financial ratios to support its claims. Steps 1. Choose How to read...
-
Waterways has two major public-park projects to provide with comprehensive irrigation in one of its service locations this month. Job J57 and Job K52 involve 15 acres of landscaped terrain which will...
-
Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these...
-
You create a new project roadmap that is visually appealing and contains all the information for the stakeholders to reference. However, this document took a lot of time to create and has caused some...
-
1) What are the benefits of a long-term perspective on value creation? For companies? For the economy? 2) What is the relationship between the stock market and the real economy in terms of measures...
-
1) Consider the general form of the parent power function f(x)=x" to the transformed function g(x)=alk(x-d)]" + c, where n E N and x E R. a) Write the general mapping rule from f(x) to g(x). [C-2] b)...
Study smarter with the SolutionInn App