Income statements for Jordan Company for Year 3 and Year 4 follow. JORDAN COMPANY Income Statements...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Income statements for Jordan Company for Year 3 and Year 4 follow. JORDAN COMPANY Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Year 4 $201,600 143,200 20,200 13,000 3,200 $179,600 22,000 6,100 $15,900 Year 3 $181,600 121,200 18,200 15,000 5,200 $159,600 22,000 3,500 $18,500 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. Income statements for Jordan Company for Year 3 and Year 4 follow. JORDAN COMPANY Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Year 4 $201,600 143,200 20,200 13,000 3,200 $179,600 22,000 6,100 $15,900 Year 3 $181,600 121,200 18,200 15,000 5,200 $159,600 22,000 3,500 $18,500 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.
Expert Answer:
Answer rating: 100% (QA)
a Horizontal Analysis Sales Percentage Change Year 4 Sales Year 3 Sales Year 3 Sales 100 Percentage Change 201600 181600 181600 100 Percentage Change 20000 181600 100 Percentage Change 01099 100 Perce... View the full answer
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Posted Date:
Students also viewed these accounting questions
-
Income statements for Gaidar Company for 2014 and 2015 follow. Required Round all percentages to one decimal point. a. Perform a horizontal analysis, showing the percentage change in each income...
-
Income statements for Burch Company for Year 3 and Year 4 follow. Required Round all percentages to one decimal point. a. Perform a horizontal analysis, showing the percentage change in each income...
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Given that y = x 2 , find the image of the curve y = x 2 after each of the following combinations of transformations. a. A stretch in the y-direction with factor 3 followed by a translation by the...
-
Show that the equation 1 + 2x + x3 + 4x5 = 0 has exactly one real root.
-
Suppose the slit openings in a Youngs double-slit experiment have different sizes so that the electric fields and intensities from each slit are different. With E1 = E01 sin (wt) and E 2 = E02 sin...
-
How to prepare a witness for deposition?
-
Cortalo, Inc., manufactures riding lawn mowers. Cortalo uses JIT manufacturing and carries in signiï¬cant levels of inventory. Cortalo manufactures everything needed for the riding lawn...
-
While both casinos and cruise ships have betting games in their establishments, what is one major difference between the two that have legal and social implications? Justify your position and provide...
-
Manitoba Exporters Inc. (MEI) sells Inuit carvings to countries throughout the world. On December 1, Year 5, MEI sold 10,000 carvings to a wholesaler in a foreign country at a total cost of 600,000...
-
Sally and John are husband and wife and Nick is their adult son. Sally runs a business of providing home care to people with disability and has business turnover of $1.1m for 2020/21. John runs a bus...
-
The CEO has a salary of $100,000 per year. At year 1, she was also awarded 10,000 options at the strike price of $50 per share. Each option allows her to buy one share of the company's stock. At the...
-
Draw the shear and moment diagram for the uniformly loaded beam. Sketch the deflected shape and find the inflection point. Consider C is pin and B is a roller support. A w = 6 kips/ft A A + y Problem...
-
Organizations today use information systems for several purposes. How will you use the internet and specific resources like SBA.GOV & SCORE.ORG as well as websites devoted to your type of business?...
-
Execute: Fetch: 3. Store AC to device 6. Execute G Memory 300 301 302 N 940 3005 5940 7006 volo Memory 300 301 302 3005 5940 7006 940 000 Memory 300 301 302 3005 5940 7006 940 00/2 CPU Registers PC...
-
Mica Inc. began operations in October, 2014. During October, Mica sold ordinary shares for 600,000, earned revenue of 66,000, incurred expenses of 36,000, and paid dividends of 3,000. Calculate...
-
Formulate and use linear programming to solve the following problem. A company wants to determine how many units of each of two products (products X and Y) it must produce to make the most money. The...
-
If a force of F = 50 Ib is applied to the pads at A and C, determine the smallest dimension d required for equilibrium if the spring has an unstretched length of 1 ft. B 1 ft 1 ft F k = 15016/fr 1ft...
-
The financial statements of Nike Corporation reveal the information regarding income taxes shown in Exhibit 2.15. Required a. Assuming that Nike had no significant permanent differences between book...
-
Selected data for The Hershey Company for Year 1 through Year 3 appear in Exhibit 4.29. REQUIRED a. Compute ROA and its decomposition for Year 2 and Year 3. Assume a tax rate of 35%.b. Compute ROCE...
-
ARTL Company issued 3%, 10-year convertible bonds on January 1, 2010, at their par value of $500 million. Each $1,000 bond is convertible into 40 shares of ARTLs $1 par value common stock . Use the...
-
The equations of motion of a two-degree-of-freedom system are given by where \(F_{1}(t)\) denotes a rectangular pulse of magnitude 5 acting over \(0 \leq t \leq 2\). Find the solution of the...
-
Find the response of a simple pendulum numerically by solving the linearized equation: \[\ddot{\theta}+\frac{g}{l} \theta=0\] with \(\frac{g}{l}=0.01\) and plot the response, \(\theta(t)\), for \(0...
-
Find the response of a simple pendulum numerically by solving the exact equation: \[\ddot{\theta}+\frac{g}{l} \sin \theta=0\] with \(\frac{g}{l}=0.01\) and plot the response, \(\theta(t)\), for \(0...
Study smarter with the SolutionInn App