The comparative income statements and balance sheets of Otis, Inc., appear below. Compute the amount and percentage
Question:
The comparative income statements and balance sheets of Otis, Inc., appear below. Compute the amount and percentage changes for the income statements and comment on the changes from 2011 to 2012. (Round the percentage changes to one decimal place.
Transcribed Image Text:
Otis, Inc. Comparative Income Statements For the Years Ended December 31, 2012 and 2011 2012 2011 Net sales Cost of goods sold Gross margin Operating expenses Operating income Interest expense Income before income taxes Income taxes expense Net Income Eanings per share 360,000290,000 224,000176,000 136,000 114,000 60,000 $ 56,000 54,000 10,000 42,000 44,000 16,000 s 28,000 28,000 52.80 2.80 80,000 14,000 14,000 Otis, Inc. Comparative Balance Sheets December 31, 2012 and 2011 2012 2011 Assets s 48,000 260,000 $308,000 $ 40,000 200,000 $240,000 Current assets Property, plant, and equipment (net) Total assets Liabilities and Stockholders'Equity 36,000 180,000 Current liabilitles Long-term liabilities Stockholders'equity Total llabilitles and stockholders equity 44,000 120,000 76,000 $240,000 $308,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Otis Inc Comparative Income Statements For the Years Ended December 31 2012 and 2011 The percentage ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
The comparative income statements and balance sheets of Sarot, Inc., appear on the opposite page. Compute the amount and percentage changes for the income statements, and comment on the changes from...
-
The comparative income statements and balance sheets of Sarot, Inc., Compute the amount and percentage changes for the income statement, and comment on the changes from 2011 to 2012. Sarot, Inc....
-
The comparative income statements and balance sheets of Obras, Inc., appear on the opposite page. Compute the amount and percentage changes for the income statements, and comment on the changes from...
-
According to the 1980 revisions to the Copyright Act of 1976,_____. a. the owner of a copyrighted program is allowed to make multiplecopies or adaptations for use on other computers b. copyright...
-
10-grams of computer chips with a specific heat of 0.3 kJ/kgK are initially at 20C. These chips are cooled by placement in 5 grams of saturated liquid R-134a at -40C. Presuming that the pressure...
-
Pop Corporation purchased a 70 percent interest in Son Corporation on January 2, 2016, for $98,000, when Son had capital stock of $100,000 and retained earnings of $20,000. On June 30, 2017, Pop...
-
Repeat Problem 9.8 using the Whitney-Nuismer point stress criterion and the parameter \(d_{0}=1 \mathrm{~mm}\). Problem 9.8 Use the Whitney-Nuismer average stress criterion to estimate the allowable...
-
What are the benefits, costs, and risks of an aggressive funding strategy and of a conservative funding strategy? Under which strategy is the borrowing often in excess of the actual need?
-
Legal Encyclopedia Research - Fact-Based Research on the Twain fact pattern Go back to the home page in Lexis, then click on the "Secondary Materials" link in the "Explore Content" box. Under the...
-
Hollywood Construction Company recognizes revenue over time according to percentage of completion for its long-term construction contracts. During 2018, Hollywood began work on a $3,000,000 fixed-fee...
-
Using 2011 as the base year, prepare a trend analysis for the following data and tell whether the results suggest a favorable or unfavorable trend. (Round your answers to one decimal place.) 2012...
-
Express the comparative balance sheets of Otis, Inc., from SE 6 as common-size statements and comment on the changes from 2011 to 2012. In SE 6, the comparative income statements and balance sheets...
-
For the following exercises, one card is drawn from a standard deck of 52 cards. Find the probability of drawing the following: A heart or a non-jack
-
Determine an investment's payback period.
-
Compute rates of return.
-
The following data relate to the characteristics of high-definition televisions A through E. Identify the individuals, variables, and data corresponding to the variables. Determine whether each...
-
What do the arrows indicate in Figure 19.5? Figure 19.5 ID 1 2 LO Task Name Layout Duration Start Mar 28, 10 Apr 4, 10 S S M W S S M 1 day Mon 3/29/10 Order Delivery Plants 4 days Tue 3/30/10 3 H...
-
Based only on the emerging markets discussion, developments in which of the following areas most likely signal increasing risk for Country Bs equity market? A. Politics B. Competitiveness C....
-
Give the structures of all the alkenes containing one double bond that would give propylcyclohexane as the product of catalytic hydrogenation.
-
A company has the following incomplete production budget data for the first quarter: In the previous December, ending inventory was 200 units, which was the minimum required, at 10% of projected...
-
A \(\mathbb{R}\)-valued stochastic process \(\left(X_{t}ight)_{t \geqslant 0}\) such that \(\mathbb{E}\left(X_{t}^{2}ight)
-
Keystone, LLC, owns a peach processing plant. Last month, the plant generated the following information: peaches processed, 60,000 pounds; direct materials, $6,200; direct labor, $12,500; variable...
-
Vegan, LLC, owns a chain of gourmet vegetarian take-out markets. Vegans income statement in the traditional reporting format for the month follows. Vegan, LLC, Income Statement For the Month Sales...
-
Roofing tile is Tops Corporations major product. It sold 88,400 cases of tile during the year. Variable cost of goods sold was $848,640; variable selling expenses were $132,600; fixed overhead was...
-
Complete the Price, Advertising, and Profitability chart. a . ?Notice that the series for $ 2 5 , 0 0 0 , 0 0 0 ?is already on the chart. b . ?Add the series for advertising budgets $ 5 0 , 0 0 0 , 0...
-
Solve for the missing information designated by "?" in the following table. (Use 365 days in a year. Round the inventory turnover ratio to one decimal place before computing days to sell. Round days...
-
Grove Media plans to acquire production equipment for $800,000 that will be depreciated for tax purposes as follows: year 1, $320,000; year 2, $180,000; and in each of years 3 through 5, $100,000 per...
Study smarter with the SolutionInn App