Jenny's Art Shop, Inc., sells vintage books. The firm's comparative income statement and balance sheet for the

Question:

Jenny's Art Shop, Inc., sells vintage books. The firm's comparative income statement and balance sheet for the years 2015 and 2016 follow:

Jenny's Art Shop, Inc., sells vintage books. The firm's comparative
Jenny's Art Shop, Inc., sells vintage books. The firm's comparative
Jenny's Art Shop, Inc., sells vintage books. The firm's comparative

INSTRUCTIONS
1. Prepare both a horizontal and a vertical analysis of the two statements. Carry all calculations to two decimal places, and then round to one place. (Leave all vertical analysis percentages unadjusted in this problem.)
2. Make written comments about any of the results that seem worthy of investigation.
Analyze:
If Jenny's Art Shop experiences the same growth in net sales in 2017 as was reported in 2016, what net sales can be projected?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For  book-img-for-question

College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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