Prepare a comparative common-size income statement for Zinkowski, Inc. using the 2014 and 2013 data of E12-2B.
Question:
Prepare a comparative common-size income statement for Zinkowski, Inc. using the 2014 and 2013 data of E12-2B. Round percentages to the nearest tenth of a percent.
Transcribed Image Text:
Zinkowski, Inc Comparative Income Statement Years Ended December 31, 2014 and 2013 2014 2013 Revenue $480,000 $411,100 Expenses Cost of Goods Solo Selling and General Expenses Interest Expense Income Tax Expense $254,000 110,000 6,500 46,600 417,100 62,900 $226,000 105,500 2,000 45,000 378,500 32,600 Total Expenses Net Income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (9 reviews)
Total Revenues Expenses Zinkowski Inc CommonSize Income ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
Question Posted:
Students also viewed these Corporate Finance questions
-
The 2014 and 2013 comparative balance sheets and 2014 income statement of Sudan Medical Supply Corp. Follow: Sudan Medical Supply had no noncash investing and financing transactions during 2014....
-
The 2014 and 2013 comparative balance sheets and 2014 income statement of Sommar Medical Supply Corp. follow: Sommar Medical Supply had no noncash investing and financing transactions during 2014....
-
The following items Include the 2014 and 2013 balance sheet information and the 2014 income statement of the Kushnir Corporation. Additional information about the company's 2014 transact is presented...
-
Find the values of the parameter p > 0 for which the following series converge. In k
-
Consider three periods of American history: (a) The early 1800s, when Jones lived on an isolated farm cut off from the rest of the world; (b) The late 1940s, when Smith lived in a country where...
-
Given the two displacements D= (6.00 +3.00- 1.00k) m and E = (4.00 -5.00 +8.00) m find the magnitude of the displacement 2D - .
-
A senior VP has proposed that "we pay too much tax, so we should issue new debt and use the proceeds to buy back common stock." What would be the logic behind this statement?
-
Discuss the issue of commercialism versus professionalism in the accounting profession with respect to the changes in the rules of conduct described in the case. Do you think these changes are good...
-
HR manager is looking into employee absence. 10% of all plant employees work in the finishing department; 20% of all plant employees are absent excessively; and 7% of all plant employees work in the...
-
Figure 3.25 shows the first four peaks of the x-ray diffraction pattern for copper, which has an FCC crystal structure; monochromatic x-radiation having a wavelength of 0.1542 nm was used. (a) Index...
-
Marys Gift Store requested that you perform a vertical analysis of its balance sheet to determine the component percentages of its assets, liabilities, and shareholders equity. Round to the nearest...
-
The financial statements of Vacation, Inc. include the following items: Requirement Compute the following ratios for the current year: (a) Current ratio, (b) Quick ratio, (c) Inventory turnover, (d)...
-
Smalley, Inc. purchased items of inventory as follows: Jan. 4 100 units @ $2.00 Jan. 23 120 units @ $2.25 Smalley sold 50 units on January 28. Compute the cost of goods sold for the month under the...
-
Need research and content writing in paperback format ebook which could translated into audiobook of 3h. Non-fiction. You are not ALONE: Type 1 diabetes Guide 1 year ago my 10 year old son was...
-
Use the link above to access the most recent (2022) 10-K annual financial statement of The Progressive Corporation. (PGR). Note that the dollar amounts in the financial reports of large companies are...
-
Analyze the importance of being able to demonstrate situational leadership and its connection to leadership effectiveness.
-
Below are three articles to read about communication in the workplace before you respond to the prompt: Communication Skills for Career Success (Indeed)Links to an external site. Ways to Improve Your...
-
You will begin by developing a performance review form that contains a minimum of 10 points of criteria. This template is a starting point and may be used as is or can be modified as you wish. The...
-
If R is a Dedekind domain with quotient field K, F is a finite dimensional extension field of K and Sis the integral closure of R in F (that is, the ring of all elements of F that are integral over...
-
Distinguish among total-moisture content, free-moisture content, equilibrium-moisture content, unbound moisture, and bound moisture.
-
Identify whether each of the following would be reported as an operating, investing, of financing activity in the statement of cash flows. a. Retirement of bonds payable b. Payment of accounts...
-
Identify whether each of the following would be reported as an operating, investing, or financing activity in the statement of cash flows. a. Issuance of bonds payable b. Cash sales c. Collection of...
-
Martin corporations accumulated depreciation-furniture increased by $10,500, while $3,850 of patents were amortized between balance sheet dates. There were no purchases or sales of depreciable or...
-
You are working in a clinic and have just roomed a patient. When you come out of the room, you overhear me complaining to two co-workers about you and how slow you are. [Take the role of the other...
-
What are the advantages and pitfalls of the media's appetite for telling and selling stories? As we reach the point where almost all media exist on the Internet in some form, how have our culture and...
-
When looking at a project to convert data into information, data analysis is the methodology thatshould be used to accomplish the output. When reviewing the tools used in the course and the data that...
Study smarter with the SolutionInn App