Prepare both consolidated income statement and common-size income statement for JACOB for years 2018 through 2021...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Prepare both consolidated income statement and common-size income statement for JACOB for years 2018 through 2021 based on the following scrambled information. Use the format provided on the following page. (All figures in millions except the tax rate) Year Common Dividends Interest Expenses Selling & Administrative Expenses Cost Of Goods Sold Other Operating Expenses Tax Rate Sales Common Shares Outstanding Depreciation 2018 $750 628 7,075 14,050 2,871 40% 31,000 1,000 170 2019 $860 628 7,200 15,000 2,904 40% 2020 184 $860 595 7,591 16,400 3,002 40% 33,000 36,000 1,000 1,000 193 Earnings per share (EPS) = Net Income/Common Shares Outstanding Dividends per share (DPS) - Common Dividends/Common Shares Outstanding 2021 $920 615 7,619 17,200 2,995 40% 39,000 1,20 195 Common-Size Income Statement Spreadsheet Example ASSIGNMENT # Sales Cost Of Goods Sold Gross Profits Selling & Administrative Expenses Depreciation Other Operating Expenses Total Operating Expense JACOB CORPORATION COMMON-SIZE INCOME STATEMENT 2018-2021 Earnings Before Interest & Taxes (EBIT) or Operating Profits Interest Expense Earnings Before Taxes (EBT) Taxes @40% Net Income Common Dividends NAME: LAB TIME: Addition to Retained Earnings 2018 2019 2020 2021 formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula Prepare both consolidated income statement and common-size income statement for JACOB for years 2018 through 2021 based on the following scrambled information. Use the format provided on the following page. (All figures in millions except the tax rate) Year Common Dividends Interest Expenses Selling & Administrative Expenses Cost Of Goods Sold Other Operating Expenses Tax Rate Sales Common Shares Outstanding Depreciation 2018 $750 628 7,075 14,050 2,871 40% 31,000 1,000 170 2019 $860 628 7,200 15,000 2,904 40% 2020 184 $860 595 7,591 16,400 3,002 40% 33,000 36,000 1,000 1,000 193 Earnings per share (EPS) = Net Income/Common Shares Outstanding Dividends per share (DPS) - Common Dividends/Common Shares Outstanding 2021 $920 615 7,619 17,200 2,995 40% 39,000 1,20 195 Common-Size Income Statement Spreadsheet Example ASSIGNMENT # Sales Cost Of Goods Sold Gross Profits Selling & Administrative Expenses Depreciation Other Operating Expenses Total Operating Expense JACOB CORPORATION COMMON-SIZE INCOME STATEMENT 2018-2021 Earnings Before Interest & Taxes (EBIT) or Operating Profits Interest Expense Earnings Before Taxes (EBT) Taxes @40% Net Income Common Dividends NAME: LAB TIME: Addition to Retained Earnings 2018 2019 2020 2021 formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula formula
Expert Answer:
Answer rating: 100% (QA)
consolidated income statement for JACOB for years 2018 through 2021 Year Sales Cost of Goods Sold Gr... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date:
Students also viewed these accounting questions
-
Prepare the current asset section based on the following alphabetized post-closing trial balance information at March 31, 2014, for Whiteagle Company: Account Accounts payable Accounts receivable...
-
Prepare any journal entries based on the following data regarding the bank reconciliation prepared by Washington & Leigh Company on July 31, 2009. a. A customer's check for $260 was returned with the...
-
Prepare your report based on the following information: Using a business perspective, define and give the characteristics of organizational leadership. Describe the importance of strong leadership in...
-
In 2017, Barlow moved from Chicago to Miami to start a new job, incurring costs of $1,200 to move household goods and $2,500 in temporary living expenses. Barlow was not reimbursed for any of these...
-
If NewBanks target ROE is 4.5%, how much net fee income must it generate to meet this target?
-
Astronomers infer the radiant exitance (radiant flux emitted per unit area) of stars using the Stefan Boltzmann Law: E(T) (5.67 10 8 )T 4 where E is the energy radiated per unit of surface area...
-
Suppose $U(x)$ is a utility function with Arrow-Pratt risk aversion coefficient $a(x)$. Let $V(x)=c+b U(x)$. What is the risk aversion coefficient of $V$ ?
-
As of December 31, 2015, its first year in business, Kukui Company had taxable temporary differences totaling $110,000. Of this total, $45,000 relates to current items. Kukui also had deductible...
-
Income Statement Instructions Labels and Amount Descriptions Income Statement Instructions Jasper Company provided the following information for last year Costs Sales in units Selling price Amount...
-
Journalize all these transactions into a general ledger. Transactions May 1 Purchased merchandise from Keys Wholesale on account for $735.30, Invoice No 91 Dated May 1, terms 2/10, n30 May 2...
-
Chris Legstrong is an avid bicycler and the CEO of the RollingRubber Company, a producer of bicycle frames. Chris budgeted tosell 10,000 frames this year. He also provided you with thefollowing...
-
Trials and tribulations of Argentinas currency board. Using data from the International Monetary Fund and the Bank for International Settlements, chart the current (balance of both visible and...
-
Tequila Crisis (A) (web exercise). Log in to www.pacific.commerce.ubc.ca/xr to graph the Mexican price of one U.S. dollar over the period 19921996. Can you characterize the exchange rate regime(s)...
-
Mountain Petroleum had an exploratory well in progress at the end of 2018. Total costs incurred by 12/31/18 were $300,000. During January 2019, drilling was continued and costs of $200,000 were...
-
Foreign remittances and the subprime crisis (B). Track the flows of expatriates remittances to the Philippines before, during, and after the subprime crisis. What is your interpretation? How do they...
-
Equipment used in testing and completing a development well cost $50,000 and has a 10-year life with a salvage value of $5,000. The equipment is classified as support equipment and facilities. The...
-
1. Min Z = 5x + x subject to 2x + X 6 x + X 4 2x + 10x 20 X1, X 0 a) Solve the LP model using the graphical method and determine the optimal solution. b) Calculate slack/surplus for each...
-
Using the parallel-axis theorem, determine the product of inertia of the area shown with respect to the centroidal x and y axes. 6 in. 9 in. 9 in- 4.5 in. in. 4.5 in.
-
Who can develop reorganization plans in a Chapter 11 bankruptcy?
-
Opus, Incorporated, owns 90 percent of Bloom Company. On December 31, 2010, Opus acquires half of Blooms $500,000 outstanding bonds. These bonds had been sold on the open market on January 1, 2008,...
-
Ramshare Company acquired equipment at the beginning of 2011 at a cost of $100,000. The equipment has a five-year life with no expected salvage value and is depreciated on a straight-line basis. At...
-
(a) The longitudinal data set "v4c" is in the vertical format; transform it into the horizontal format. (b) Transform the data set you obtained in part (a) back into the vertical format.
-
Perform some exploratory analysis on the DTS study described above. (a) Compute the mean and standard deviation of the HamD scores for the two treatment groups at each time point. (b) Treat repeated...
-
In this question we develop a regression model to assess the treatment effect for stigma in the DTS study, controlling for demographics and baseline measurements. We will use the cumulative logit...
Study smarter with the SolutionInn App