Review Just Running's income statement below. 4 7 5 Category 6 Revenue 8 9 10 11...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Review Just Running's income statement below. 4 7 5 Category 6 Revenue 8 9 10 11 12 13 14 15 16 17 18 Just Running Income Statement Net sales 23 A Cost of goods sold Operating expenses Selling, general, and administrative expenses Interest expense Income tax expense Total operating expenses Other income and expenses Other income 21 Category Gross profit Gain on financial instruments 22 Net income Net sales Net income This Year A B This Year $3,250,615.00 $1,989,483.00 $1,261,132.00 $657,178.00 $8,755.00 $145,509.00 $811,442.00 B $12,312.00 $4,668.00 $466,670.00 Last Year Using the figures from the income statement above, find the change in net sales and the change in net income from last year to this year. Use the Excel formula for subtraction: this year-last year $2,887,545.0 $1,876,904.0 $1,010,641.00 Last Year $577,118.0 $6,218.0 $103,970.0 $687,306.00 C $9,399.0 $3,671.0 $336,405.00 Review Just Running's income statement below. 4 7 5 Category 6 Revenue 8 9 10 11 12 13 14 15 16 17 18 Just Running Income Statement Net sales 23 A Cost of goods sold Operating expenses Selling, general, and administrative expenses Interest expense Income tax expense Total operating expenses Other income and expenses Other income 21 Category Gross profit Gain on financial instruments 22 Net income Net sales Net income This Year A B This Year $3,250,615.00 $1,989,483.00 $1,261,132.00 $657,178.00 $8,755.00 $145,509.00 $811,442.00 B $12,312.00 $4,668.00 $466,670.00 Last Year Using the figures from the income statement above, find the change in net sales and the change in net income from last year to this year. Use the Excel formula for subtraction: this year-last year $2,887,545.0 $1,876,904.0 $1,010,641.00 Last Year $577,118.0 $6,218.0 $103,970.0 $687,306.00 C $9,399.0 $3,671.0 $336,405.00
Expert Answer:
Answer rating: 100% (QA)
To find the change in net sales and net income from l... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these corporate finance questions
-
(10 points) Given that ry + xy = 1. 1. Find a solution of the differential equation that satisfies the initial condition y(1) = 10. Answer: y = 2. Find a solution of the differential equation that...
-
A researcher wanted to find out if there was difference between older movie goers and younger movie goers with respect to their estimates of a successful actors income. The researcher first...
-
Historical returns for the past three years for Stock B and the stock market portfolio are Stock B: 30 percent, 0 percent, 30 percent; market portfolio : 18 percent, 20 percent, 28 percent. The...
-
An electron experiences the greatest force as it travels 2.9 X 106 m/s in a magnetic field when it is moving north-ward. The force is upward and of magnitude 7.2 X 10-13N. What are the magnitude and...
-
In analyzing thermodynamic cycles involving heat exchangers, it is useful to express the heat rate in terms of an overall thermal resistance R, and the inlet temperatures of the hot and cold fluids,...
-
Describe the use of "color" as a quantum number for the quarks.
-
Suppose the purchase price of the forklift is \($20,000,\) its residual value in four years is certain to be \($6000,\) and there is no risk that the lessee will default on the lease. If the...
-
At the beginning of January 201X, the stockholders equity of Mountain View Corporation consisted of the following: 1. Record the transactions in general journal form. 2. Prepare the stockholders...
-
For this exercise, instead of using the values in the challenge, ask the user for the number of shares, the share price, and the percent commission.For this exercise, instead of using the values in...
-
All sales of Tracys Jeans and Uniforms (TJU) are made on credit. Sales are billed twice monthly, on the fifth of the month for the last half of the prior months sales and on the twentieth of the...
-
485 Big Pharma shares $490 per share Additional information: On the sale of the shares, Dr. Roy paid a brokerage commission of $3,100. 1100 Dr. Jacob Roy Professional Corporation $3.050 per share $85...
-
Develop a short sales presentation about a chemical dependency program that you would make to an employee assistance professional of a large company. Show how the presentation would change using (a)...
-
Consider a car share system in which drivers pick up other riders, enabling them to make money during their commute while reducing traffic congestion. Riders wait at pickup points, are dropped off at...
-
The manager of a publishing firm is looking to raise subscription numbers for her portfolio of house and home and gardening magazines. What use could she make of external databases? Would the costs...
-
Generate the image of a checkerboard.
-
Create an outline plan to start a blog as an opinion leader. What tools or skills would be needed? What would be the subject area? What types of content would be included?
-
In this case, Ms. M has dementia with a non-psychotic brain syndrome. She is non-communicative, non-ambulatory, and has a DNR. A DNR means do not resuscitate (see below) As per the family's wishes,...
-
Suppose that the laptop of Prob. 2.16 is placed in an insulating briefcase with a fully charged battery, but it does not go into sleep mode, and the battery discharges as if the laptop were in use....
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-7. Ivan sold the following securities during the year and received a Form 1099-B that...
-
Please answer the following questions regarding the taxability of Social Security: a. A 68-year-old taxpayer has $20,000 in Social Security income and $100,000 in tax-free municipal bond income. Does...
-
If Charles, a 16-year-old child model, earns $50,000 a year and is completely self supporting even though he lives with his parents, can his parents claim him as a dependent? Why or why not?...
-
Eatern and Sons Ltd accounts for its manufacturing costs using a job order costing system and has provided the following production data during June 2019. Job Z241 was in process as of 1 June with a...
-
Abbott Ltd produces a chemical used to clean showers in a single process in the Production Department. Raw materials in the form of chemicals are added at the beginning of the process, and a litre...
-
The April 2019 transactions of Jackson Productions Ltd, which uses a job order costing system, are shown below. (Ignore GST.) 1. Raw materials purchased, $342 000. 2. Raw materials issued to...
Study smarter with the SolutionInn App