Revenue and expense data for Tribal Technologies Co. are as follows: 2018 2017 Sales $429,000 $365,000...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Revenue and expense data for Tribal Technologies Co. are as follows: 2018 2017 Sales $429,000 $365,000 Cost of goods sold 253,110 197,100 Selling expenses 68,640 65,700 Administrative expenses 77,220 80,300 Income tax expense 17,160 7,300 a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 2017 as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as a positive number. Gross profit Tribal Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 2017 Total operating expenses Net income 2018 Amount 2018 Percent 2017 Amount 2017 Percent Revenue and expense data for Tribal Technologies Co. are as follows: 2018 2017 Sales $429,000 $365,000 Cost of goods sold 253,110 197,100 Selling expenses 68,640 65,700 Administrative expenses 77,220 80,300 Income tax expense 17,160 7,300 a. Prepare an income statement in comparative form, stating each item for both 20Y8 and 2017 as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as a positive number. Gross profit Tribal Technologies Co. Comparative Income Statement For the Years Ended December 31, 20Y8 and 2017 Total operating expenses Net income 2018 Amount 2018 Percent 2017 Amount 2017 Percent
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Retailers are constantly looking for ways to get a top position in the market place. Retailers use all of the 4 Ps (price, promotion, product, and place) to add value and try to get an edge in...
-
4 ) Cori's Dog House is considering the installation of a new computerized pressure cooker for hot dogs. The cooker will increase sales by $ 7 , 4 0 0 per year and will cut annual operating costs by...
-
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...
-
Refer to the Webers Data Set above. 1. Compute the direct materials efficiency variance for onion, mustard, and ketchup. 2. As a manager, what would you learn from the variances and supporting data?...
-
Describe office phone, cellular phone, pager, fax machine, copier and e-mail etiquette.
-
Wolverine Software has just completed an R&D project that required borrowing senior debt from a bank. The bank has been promised a repayment of $140 million. This R&D effort has resulted in an...
-
How can marketers exploit characteristics of digital marketing to improve relations with customers?
-
Kobe transfers $500,000 in cash to newly formed Bryant Corporation for 100% of Bryants stock. In the first year of operations, Bryants taxable income before any payments to Kobe is $120,000. What...
-
14. (1 point) A mobile phone company offers a phone plan that allows 600 min of airtime per month. The revenue generated from this plan depends on the price of the plan according to the data in the...
-
The motorcyclist travels with constant velocity along a straight, horizontal, banked road. If he aligns his bike so that the tires are perpendicular to the road at A, determine the frictional force...
-
Elppa Inc. is a calendar year, accrual method C corporation. In December 2018, Elppa enters into a contract with XYZ pursuant to which Elppa pays XYZ $200,000, and XYZ is required to renovate Elppa's...
-
An initial investment of $800 grows in value at a continuous rate of 5.9% per year. What is the doubling time for the investment? Give an exact value, not a decimal approximation.
-
1. A box that weighs 2000N is accelerated uniformly over a horizontal surface at a rate of 8.00 m/s. The opposing force of friction between the box and the surface is 27.4 N. a. Draw a labeled,...
-
During 2024, a company sells 389 units of inventory for $94 each. The company has the following inventory purchase transactions for 2024: Number of Unit Date January 1 May 5 Transaction Beginning...
-
Using the information in the image below, how do I set up a linear programming model for the project plan with these parameters Show how time and cost estimates play into the specification. In...
-
Barbara Jackson and Fred Harrin decide to organize the Wildhorse partnership. Jackson invests $15,300 cash and Harrin contributes $10,200 cash and equipment with a cost of $7,140 and accumulated...
-
Sudoku Company issues 34,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $227,000 and the building at $376,000. Prepare the journal entry to record...
-
The bookkeeper for Riley, Inc., made the following errors: a. A cash purchase of supplies of $357 was recorded as a debit to Supplies for $375 and a credit to Cash of $375. b. A cash sale of $3,154...
-
Three years ago the TCBY at the local mall bought a frozenyogurt machine for $8,000. A salesperson has just suggested to the manager that she replace the machine with a new $12,500 machine. The...
-
English Bay Beach Company manufactures suntan lotion, called Surtan, in 11 -ounce plastic bottles. Surtan is sold in a competitive market. As a result, management is very cost-conscious. Surtan is...
-
Jessica Company manufactures bicycles and tricycles. For both products, mate- rials are added at the beginning of the production process, and conversion costs are in- curred uniformly. Jessica...
Study smarter with the SolutionInn App