Complete the following income statement and vertical analysis? Marten's Family Store Income Statement For Year Ending December
Question:
Transcribed Image Text:
Marten's Family Store Income Statement For Year Ending December 31, 2013 Percent of net sales Revenue: Gross sales Sales returns and allowances Net sales Cost of goods sold: Beginning inventory, January 1, 2013 Purchases Ending inventory, December 31, 2013 Cost of goods sold Gross profit from sales Operating expenses: Salary Rent Utilities Insurance Fees Depreciation Miscellaneous Total operating expenses Net income $238,923 13,815 25,814 109,838 23,423 42,523 8,640 1,484 2,842 860 1,920 3,420 61,689
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Net sales 238923 13815 225108 Gross profit from sales 225108 112229 112879 Net income 1...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Question Posted:
Students also viewed these Finance questions
-
The following income statement and vertical analysis data are available for Robbins Audio Products: Required: 1. Suggest why net income declined from $273,200 to $41,600 while the cost of goods sold...
-
The following income statement and vertical analysis data are available for Willis Audio Products: Required: 1. Suggest why net income increased from $92,500 to $414,900 while the cost of goods sold...
-
The following income statement and vertical analysis data are available for Colfer Audio Products: Required: 1. Suggest why net income declined from $273,200 to $41,600 while the cost of goods sold...
-
Describe the impact of mobile computing upon your business and project its impact in the future. Do the same for social media. In both cases, when considering impacts, consider how each technology...
-
What is the purpose of cash forecasting, and how does it assist in the smooth functioning of a government?
-
Be creative and think of an idea of how to get your product known in as many markets as you can with as little money as you have to spend for the campaign. Describe the 6 steps in detail and how your...
-
We will see in Chapter 8 that the pressure drop in fully developed pipe flow is sometimes computed with the aid of a friction factor, defined by \[ f=\frac{\Delta p}{\frac{1}{2} ho V^{2}}...
-
The Centrico Medical Laboratory, a government-sponsored charity, is located on the island of Ste. Lucretia. The laboratory has just finished its operations for September, which was a particularly...
-
Assuming F_hull is 500kN. Can you solve the FBDs for the reaction forces at A, B and C? Bx B By 250 mm 40 400 mm Any Ax 178 mm Ax + 64 A W FR Fhull Fhull
-
Sullivan Ranch Corporation has purchased a new tractor. The following information is given: $150,000 $10,000 Cost: Estimated Residual: Estimated Life in years: Estimated Life in hours: Actual Hours:...
-
Complete the vertical analysis and horizontal analysis of the comparative balance sheet for Seymour's, LLC. Express percents to the nearest tenth of a percent? Seymour's Organics, LLC. Comparative...
-
Complete the following horizontal analysis of a comparative income statement? Alonzo's Auto Parts Comparative Income Statement For years ending June 30, 2013 and 2014 2014 Increase (decrease) Amount...
-
On April 16, 1947, the SS Grandchamp, a cargo ship owned by the Republic of France and operated by the French Line, was loading a cargo of fertilizer grade ammonium nitrate (FGAN) at Texas City,...
-
find the vertex form X2-8x+12
-
You have been asked by your boss to write a brief memo outlining the potential benefits and drawbacks for rating employees and for ranking employees. What would you tell him? What form of employee...
-
1.The nursing student addresses an 86-year-old patient by his first name at their initial meeting. To the patient, this behavior a.is a sign of the nursing students empathy for the patient. b.could...
-
Determine how much money Jackson will have at the end of 3 years Also what's the interest "i=r\m" Jackson deposits $50 at the end of each month in a savings account earning interest at a rate of...
-
Serum iron was measure in 60 healthy adults. The sample mean of serum iron was 18.30 with a sample standard deviation of 4.66. Based on the date estimate the population mean serum level in healthy...
-
Use a graphing calculator to solve the given equations to the nearest 0.001. v 2 2v 4 = 0
-
What are some of the various ways to implement an awareness program?
-
On January 15, Sheridan Service received a shipment with an invoice dated January 14, terms 4/10 E.O.M., for $2592. On February 9, Sheridan Service mailed a cheque for $1392 in partial payment of the...
-
What is the regular selling price of an item purchased for $1270 if the markup is 20% of the regular selling price?
-
The regular selling price of merchandise sold in a store includes a markup of 40% based on the regular selling price. During a sale, an item that cost the store $180 was marked down 20%. For how much...
-
Describe, in steps, at least one strategy used to attack embedded operating systems. Describe, in steps, at least one strategy used to defend against the chosen attack.
-
how does a hypercompetetice environment challenge those in an industry
-
Describe how managers can reduce unnecessary costs, including real - world examples of how it has been done
Study smarter with the SolutionInn App