Data for Mariner Designs, Inc. follow: Requirements 1. Prepare a horizontal analysis of the comparative income statement
Question:
Data for Mariner Designs, Inc. follow:
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 2015 net income increase by a higher percentage than net salesÂrevenue?
Transcribed Image Text:
MARINER DESIGNS, INC Comparative Income Statement Years Ended December 31, 2015 and 2014 2015 2014 Net Sales Revenue 431,000 372,350 Expenses Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 200,000 187,550 91,050 6,850 285,450 $ 123,650 S 86,900 99,000 8,350 307,350 Net Income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 47% (19 reviews)
Requirement 1 MARINER DESIGNS INC Comparative Income Sta...View the full answer
Answered By
William Otieno
I am a professional tutor and a writer with excellent skills that are important in serving the bloggers and other specialties that requires a great writer. The important aspects of being the best are that I have served so many clients with excellence
With excellent skills, I have acquired very many recommendations which have made it possible for me to survive as an excellent and cherished writer. Being an excellent content writer am also a reputable IT writer with essential skills that can make one turn papers into excellent result.
4.70+
83+ Reviews
354+ Question Solved
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Managerial 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...
-
The character wrapper class provides numerous methods for O a. adding two char variables b. testing and converting char variables O c. testing string objects O d. converting string variables
-
Define lattice energy for potassium bromide.
-
Given the following kinetic scheme and associated rate constants, determine the concentration profiles of all species using Eulers method. Assume that the reaction is initiated with only the reactant...
-
The influence of temperature on the equilibrium constant of a chemical reaction can be obtained from (a) \(\left(\frac{\partial \ln K}{\partial T} ight)=-\frac{\Delta \dot{H}}{T^{2}}\) (b) \(\ln...
-
The L. Young & Sons Manufacturing Company produces two products, which have the following profit and resource requirement characteristics: Last months production schedule used 350 hours of labor in...
-
Consider the following pseudocode for calculating ab, where a and b are positive integers. 19 FastPower Input: positive integers a and b. Output: ab. return a if b=1 then else c:=b.b...
-
Bamfram plc is a well established manufacturer of a specialized product, a Wallop, which has the following specifications for production: The sales manager informs Mr. Jones that despite adverse...
-
Return to the RAR data in Short Exercise S15A-13. RAR had 13,500 shares of common stock outstanding during 2015. RAR declared and paid preferred dividends of $ 3,000 during 2015. Show how RAR reports...
-
Magic Oaks Realtys net revenue and net income for the following five-year period, using 2012 as the base year, follow: Requirements 1. Compute trend analysis for net revenue and net income. Round to...
-
Petrel Corporation has accumulated E & P of $85,000 at the beginning of the year. Its current-year taxable income is $320,000. On December 31, Petrel distributed business property (worth $140,000,...
-
A gas stream containing 25 mol% component A and 75 mol% component B is brought into contact with a liquid solvent in a counter-current mass transfer column. The equilibrium data for this system is...
-
You have just purchased some goods and have received a $1,000 invoice. The invoice has credit terms of 2/10 n45. If you pay the invoice on the net day, what is your annualised percentage cost of...
-
Gold Company was experiencing financial difficulties but was not bankrupt or insolvent. National Bank, which held a mortgage on other real estate owned by Gold, reduced the principal from $110,000 to...
-
Group B1 (Binary Search Tree) Beginning with an empty binary search tree, Construct binary search tree by inserting the values in the order given. After constructing a binary tree - i. Insert new...
-
Subject : Data Structures and Algorithm (Practical Assignment) Group A-04 (Set Operations) Group A-04 (Set Operations) To create ADT that implement the "set" concept. a. Add (new Element) -Place a...
-
The Midland Company refines and trades gold. At the end of the year, it sold 2,500 ounces of gold for $1 million. The company had acquired the gold for $900,000 at the beginning of the year. The...
-
State whether each statement is true or false. If false, give a reason. {purple, green, yellow} = {green, pink, yellow}
-
Discuss how one decides whether a model is too simple or unnecessarily complicated.
-
Wolcott Corporation issued 5,000 shares of no-par common stock for $2 per share on January 13. Record the stock issuance.
-
Self-Defense Schools, Inc. is authorized to issue 200,000 shares of $2 par common stock. The company issued 73,000 shares at $5 per share. When the market price of common stock was $7 per share,...
-
Wood Golf Club Corp. had the following stockholders' equity at December 31, 2017: On June 30, 2018, Wood Golf Club split its common stock 2-for-1. Prepare the stockholders' equity section of the...
-
Proposals to increase inheritance taxes are also under discussion. These are taxes on the amount of money that a person (an heir) inherits. What would the likely effect on the labor supply of heirs...
-
In 2011, a new program was put in place that allowed Christmas trees to be taxed (initially $1 per tree), with funds going to the Christmas Tree Promotion Board. The CTPB would use the funds to...
-
W W2 W3 W4 f f f f Consider the following two-sided matching problem. ff2 f3 f Wi W3 WA f2 fa fa fa fa fa f2 fi fa f2 fi f2 102 W3 WA W2 W3 W2 W2 Wi Wa Wa Wi W3 Compute the W-DA outcome. Compute the...
Study smarter with the SolutionInn App