Income statements are presented for the Elf Corporation for the years ending December 31, 2010, 2009, and
Question:
Required:
Write a one-paragraph analysis of Elf Corporation's profit performance for the period.
To the Student: The focus of this exercise is on analyzing financial data rather than simply describing the numbers and trends. Analysis involves breaking the information into parts for study, relating the pieces, making comparisons, drawing conclusions, and evaluating cause andeffect.
Transcribed Image Text:
Elf Corporation Income Statements for the Years Ending December 31, 2010, 2009, and 2008 (in millions) 2009 $550 $275 100 Sales Cost of goods sold Gross profit Operating expenses: Administrative Advertising and marketing Operating profit Interest expense Earnings before tax Tax expense (50%) Net income $700 350 $350 325 100 $200 $130 $ 65 $325 100 $150 $100 $ 50 $ 70
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
Compare the following paragraphs one more descriptive and the other more analytical Have students as...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Understanding financial statements
ISBN: 978-0136086246
9th Edition
Authors: Lyn M. Fraser, Aileen Ormiston
Question Posted:
Students also viewed these Accounting questions
-
Financial statement data for years ending December 31 for Winnett Company are shown below. a. Determine the fixed asset turnover ratio for 2012 and 2011. b. Does the change in the fixed asset...
-
Financial statement data for years ending December 31 for Fallon Company are shown below. a. Determine the fixed asset turnover ratio for 2012 and 2011. b. Does the change in the fixed asset turnover...
-
Financial statement data for years ending December 31 for Davenport Company are shown below. a. Determine the fixed asset turnover ratio for 2014 and 2013. b. Does the change in the fixed asset...
-
Figure 6.6 shows the derivative g'. If g(0) = 0, graph g. Give (x, y)-coordinates of all local maxima and minima. -g'(x)- 2 6. -1 Figure 6.6 5
-
Classics, Ltd., details cars. Classics wants to compare this quarter's results with those for last quarter, which is believed to be typical for operations. Assume that the following information is...
-
Delorme Specialties reported the following at December 31, 2021 (in thousands): Requirement Determine the following items for Delorme Specialties during 2021: a. Gain or loss on the sale of property...
-
Describe the key elements of a customer care programme that would be appropriate in a manufacturing or service environment with which you are familiar.
-
Bobek Inc. has recently reported steadily increasing income. The company reported income of $20,000 in 2009, $25,000 in 2010, and $30,000 in 2011. A number of market analysts have recommended that...
-
1. A force of 6.27 N acts through a distance of 12 I'm in the direction of the force. Find the work done? 2. A car travels north at 26, I m's for 13.1 min. It then travels south at 41.3 m/s for 20.9...
-
1. You are completing the auditing of Ment Limited (ML) for the year ended 20x0 and have compiled a list of errors that your audit team has found in the course of audit work: A sale of $23,000 was...
-
LA Theatres, Inc. has two distinct revenue sources, ticket and concession revenues. The following information from LA Theatres, Inc. income statements for the past three years is available: (a)...
-
The 2007 Intel Annual Report can be found at the following Web site: www. prenhall.com/ fraser. (a) Using the consolidated statements of operations, analyze the profitability of Intel by preparing a...
-
What lessons does Diggs failure have for entrepreneurs who are studying entering the social media industry?
-
Writers sometimes use abbreviations such as FYI (for your information) and ASAP (as soon as possible). Others sometimes use LOL (laughing out loud), 4 u (for you), and gr8 (great). Where would these...
-
To minimize the cost of having our coaches set up your team training sessions in our limited office space, we suggest conducting customized team training for your employees right in your own...
-
Our app developers are excited to announce a new free app called FanMile that we believe will entice fans to share, like, and subscribe to your content. Revise the following sentences to emphasize...
-
Were asking that all employees fill out the online survey by April 1 so that we may develop a master schedule for summer vacations more efficiently. Revise the following sentences to emphasize the...
-
You wish to use a converging mirror to form an image that is \(N\) times larger than the object. In terms of \(N\) and \(R\), the radius of curvature of the mirror, at what distance ofrom the mirror...
-
What is the role of timing and pacing in revolutionary strategies?
-
Three successive resonance frequencies in an organ pipe are 1310, 1834, and 2358 Hz. (a) Is the pipe closed at one end or open at both ends? (b) What is the fundamental frequency? (c) What is the...
-
Explain the 80-20 rule as it relates to cost control.
-
What kinds of questions about future cash flows do investors and creditors attempt to answer with information in the income statement?
-
How can information based on past transactions be used to predict future cash flows?
-
How can information based on past transactions be used to predict future cash flows?
-
Calculate the cost per unit, and then use it to identify if each cost is fixed, variable, or mixed. Cost 1 Cost 2 Cost 3 2. Cost 1 Cost 2 Cost 3 Units Total Cost per Total Cost per Total Cost per...
-
Consider the auction of a single indivisible object to two risk neutral bidders, each of whom receives a private signal X; (i = {1,2}) which is independently and uniformly distributed on the interval...
-
Complete Principal of statistics 1. Find a set of data. You can find this online, in a book, collect your own. In the box below put your data in a chart. 5pt 2. Tell me where you got your data. (i.e....
Study smarter with the SolutionInn App