Here are the comparative income statements of Sunland Corporation, SUNLAND CORPORATION Comparative Income Statement For the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Here are the comparative income statements of Sunland Corporation, SUNLAND CORPORATION Comparative Income Statement For the Years Ended December 31 Net sales Cost of goods sold Gross Profit Operating expenses Net income 2022 $632.600 447,800 184.800 76,500 $ 108,300 2021 $548,500 405.900 142.600 42,900 $99.700 Prepare a horizontal analysis of the income statement data for Sunland Corporation, using 2021 as a base. (If amount and percentage.ane a decrease show the numbers as negative, eg -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, eg. 12.1%) Net sales Cost of goods sold Gross Profit 2022 Net Income $632,600 447,800 Operating expenses 76.500 SUNLAND CORPORATION Comparative Income Statement 2021 $548,500 $ 405.900 184,800 142.600 42,900 $108,300 $99,700 $ Increase or (Decrease) During 2022 Amount Percentage I 50 Sa Est de se (b) Prepare a vertical analysis of the income statement data for Sunland Corporation for both years. (Round percentages to 1 decimal place, eg 12.1%) Net sales Cost of goods sold Gross Profit Operating expenses Net income $632,600 447,800 184,800 76.500 $108,300 SUNLAND CORPORATION Condensed Income Statements 2022 Percent $6 96 96 96 96 $548,500 405.900 142.600 42.900 $ 99,700 2021 Percent % SE Spe Here are the comparative income statements of Sunland Corporation, SUNLAND CORPORATION Comparative Income Statement For the Years Ended December 31 Net sales Cost of goods sold Gross Profit Operating expenses Net income 2022 $632.600 447,800 184.800 76,500 $ 108,300 2021 $548,500 405.900 142.600 42,900 $99.700 Prepare a horizontal analysis of the income statement data for Sunland Corporation, using 2021 as a base. (If amount and percentage.ane a decrease show the numbers as negative, eg -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, eg. 12.1%) Net sales Cost of goods sold Gross Profit 2022 Net Income $632,600 447,800 Operating expenses 76.500 SUNLAND CORPORATION Comparative Income Statement 2021 $548,500 $ 405.900 184,800 142.600 42,900 $108,300 $99,700 $ Increase or (Decrease) During 2022 Amount Percentage I 50 Sa Est de se (b) Prepare a vertical analysis of the income statement data for Sunland Corporation for both years. (Round percentages to 1 decimal place, eg 12.1%) Net sales Cost of goods sold Gross Profit Operating expenses Net income $632,600 447,800 184,800 76.500 $108,300 SUNLAND CORPORATION Condensed Income Statements 2022 Percent $6 96 96 96 96 $548,500 405.900 142.600 42.900 $ 99,700 2021 Percent % SE Spe
Expert Answer:
Answer rating: 100% (QA)
Sure lets prepare the horizontal and vertical analysis of the income statement data for Sunland Corp... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
The Hardrock Concrete Company has plants in three locations and is currently working on three major construction projects, each located at a different site. The shipping cost per truckload of...
-
Pottery Pots sells flower vases, Chantiq which is sold at RM85 per unit. During the month of January 2008, a total of 2,500 units of Chantiq have been produced and sold. Below is the cost information...
-
Darden Company has cash of 37,000, accounts receivable of 47,000. Inventory of 24,500. and equipment of 67,000. Assuming current liabilities of 32,500, this company's working capital is?
-
A management team can gain additional insight on company performance by comparing ___________ against _____________. Question content area bottom Part 1 A. budgets, flexible budget B. actual results,...
-
Determine the internal normal force, shear force and moment at points D and E of theframe. 0,25 m .0.75 m- 0.75 m 1m 0.75 m 60 400 N/m
-
A citrus farmer has observed the following distribution for the number of oranges per tree. How many oranges does he expect on average? Oranges Probability 0.10 0.40 0.30 0.20 25 30 35 40
-
Using a CPU that runs an operating system that uses RMS, try to get the CPU utilization up to 100%. Vary the data arrival times to test the robustness of the system.
-
Part A In late 2012, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par...
-
Provide an overview of the key metrics NPV, IRR, MIRR, PI, and Paybacks. How are they used and which metrics are better under what conditions? What is the difference between using these metrics on...
-
Pop Corporation acquired 70 percent of the outstanding voting stock of Son Corporation for $182,000 cash on January 1, 2016, when Son's stockholders' equity was $260,000. All the assets and...
-
The Wooden World Inc. is planning to start a 3-year project. It will be designing and selling wooden nutcrackers as home decorations, and selling them both in local stores and online. The Wooden...
-
Draw a diagram depicting the values for equivalent variation and compensating variation when price decreases.
-
Based on the best available econometric estimates, the market elasticity of demand for your firms product is -2. The marginal cost of producing your product is constant at $60. 1)What is your...
-
3. Consider the following circuit. Assume timings for both D flip-flops are identical with below values: D flip-flop Setup time = TS = 10 ps D flip-flop Hold time = TH = 15 ps D flip-flop Clock-to-Q...
-
The owner of the sick tree is out and has entrusted the neighbor to water it . It is known that if the tree is not watered, the probability of it dying is 0 . 8 . If watered, the probability of the...
-
Sweaters sell for $20 at the crafts fair. Allie knits sweaters and her marginal costs are given in the table below. Allies marginal costs increase with each additional sweater. If Allie is behaving...
-
Rhoda Ruyner owns a $200,000 home and has a 2% chance of experiencing a loss that destroys her home in any given year. Assume that only one loss per year can occur and that if a loss occurs, her home...
-
DC has unused FTC carryover from 2017 in the separate category for GC income as the result of income generated by a foreign branch. The income was foreign source general category income. In 2018 the...
-
Amazon.com, Inc.s financial statements are presented in Appendix D. Financial statements of Wal-Mart Stores, Inc. are presented in Appendix E. The complete annual reports of Amazon and Wal-Mart,...
-
Data for Levine Inc. are given in E. In E, Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at...
-
On April 1, Adventures Travel Agency, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $24,000 cash. 2. Obtained a bank loan for $7,000 by...
-
Flaherty Ltd sells two types of shoes, mens shoes and womens shoes. During the financial year ended 30 June 2019, fixed costs were $460 800 and sales were in the ratio of three units (pairs) of mens...
-
Newbery and Newstead is a public accounting firm specialising in auditing local medium-sized businesses. Fees charged for each audit are determined on the basis of identifiable hours worked on an...
-
Hotbox Ltd produces pizza boxes using two processes cutting and packaging. The production budget for the year ending 30 June 2019 estimated raw materials use of $400 000, factory overhead of $270...
Study smarter with the SolutionInn App