For 2014, Macklin Inc. reported its most significant increase in net income in years. At the end
Question:
For 2014, Macklin Inc. reported its most significant increase in net income in years. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement:
Instructions
1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2013 as the base year. Round to one decimal place.
2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in(1).
Transcribed Image Text:
Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 $936,000 26,000 5910,000 441,000 $469,000 $139,150 99,450 $238,600 $230,400 65,000 $295,400 65,000 $230,400 $720,000 20,000 $700,000 350,000 $350,000 115,000 85,000 $200,000 $150,000 50,000 $200,000 50,000 $150,000 Sales returns and allowances. Gross profit Selling expenses Other income Income before income tax .
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (18 reviews)
1 MACKLIN INC Comparative Income Statement For the Years Ended December 31 2014 and 2013 2014 2013 I...View the full answer
Answered By
Tamil Elakkiya Rajendran
I'm currently involved in the research in the field of Biothermodynamics, Metabolic pathway analysis and computational Biology. I always prefer to share my knowledge whatever I have learnt through my degree whenever time permits.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Managerial Accounting questions
-
Start with an initial string of zeros. Choose any digit of the string to flip. When a digit is flipped, its value and all those to the right switch state between 0 and 1. Given a target string of...
-
For 2010, Egils Inc. reported its most significant increase in net income in years. At the end of the year, David Dickens, the president, is presented with the following condensed comparative income...
-
For 2008, Doane Inc. reported its most significant increase in net income in years. At the end of the year, Jeff Newton, the president, is presented with the following condensed comparative income...
-
Modify Index to make a program IndexByKeyword that takes a file name from the command line and makes an index from standard input using only the keywords in that file. Note: Using the same file for...
-
One type of sunburn occurs on exposure to UV light of wavelength in the vicinity of 325 nm. (a) What is the energy of a photon of this wavelength? (b) What is the energy of a mole of these photons?...
-
A crop-dusting plane flies over a level field at a height of 25 ft. If the dust leaves the plane through a 30 angle and hits the ground after the plane travels 75 ft, how wide a strip is dusted? See...
-
The price of a share is \(\$ 40\), and it is incremented in \(6 \%\) or it goes down in \(5 \%\) every three months. If the risk-free interest rate is \(8 \%\) per year, continuously compounded,...
-
1. Under what conditions would it be practical for a company to send recruiters to college campuses to interview prospective employees, and when would it be impractical? What kinds of companies would...
-
(a) Make a marketing communication campaign for this product by describing the detail of the campaign (the key campaign message + communication objective + marketing communication tools such as...
-
A ride hailing company has their DB structured in 3 major tables as described in the SCHEMA section below. Write a query to fetch the top 100 users who traveled the most distance using the service....
-
Addai Company has provided the following comparative information: You have been asked to evaluate the historical performance of the company over the last five years. Selected industry ratios have...
-
For 2014, Fielder Industries Inc. initiated a sales promotion campaign that included the expenditure of an additional $40,000 for advertising. At the end of the year, Leif Grando, the president, is...
-
An air-standard Diesel cycle has a compression ratio of 18.2. Air is at 80F and 14.7 psia at the beginning of the compression process and at 3000 R at the end of the heat addition process. Accounting...
-
Pharoah Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct...
-
Three European call options with the same expiry date on the same stock, have strike prices of $22, $23, and $24, respectively. The prices of the call options are $2.60, $2.10, and $1.90,...
-
write a reference letter for my employee, shes working for my building/ architecture company for 4 years and is an incredibly hardworking compassionate person. Shes truly an exceptional person, very...
-
Company Alfa S.A. dedicates to manufacturing (laser cutting) and commercialization of metal components for different industries, in particular the automotive industry. One of the main clients is...
-
Briefly analyze the following performance measures over the last 5 years: Interest Income, Interest Expense, and NIM Non-interest income, Non-interest expense, and Burden ROA and ROE Based on your...
-
Lakshmi Patel is the new CEO at a medical center. The agenda for her first meeting with the senior management team includes the following questions: What has been the primary purpose of the senior...
-
The unadjusted trial balance of Secretarial Services is as follows: SECRETARIAL SERVICES Unadjusted Trial Balance as at 31 December 2017 Account Debit Credit Cash at bank Office supplies Prepaid...
-
How do a SWOT analysis and SW/OT matrix help managers in the strategic decision-making process?
-
The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales..........................$18,500,000....................$20,000,000 Beginning...
-
The following data were extracted from the income statement of Keever Inc.: Current Year Previous Year Sales..........................$18,500,000....................$20,000,000 Beginning...
-
Hasbro, Inc. and Mattel, Inc. are the two largest toy companies in North America. Condensed liabilities and stockholders' equity from a recent balance sheet are shown for each company as follows (in...
-
What strategies and frameworks do you employ to prioritize strategic initiatives and allocate resources effectively, balancing short-term imperatives with long-term sustainability and growth...
-
The following table shows the data from 2000 general social survey. The table cross classifies gender and political party identifications. Subjects indicated whether they identified more strongly...
-
The Information Richness of Communication Media The four types of communication media are Face-to-face Communication, Spoken Communication Electronically Transmitted, Personally Addressed Written...
Study smarter with the SolutionInn App