Prepare a comparative common-size income statement for Zinkowski, Inc. using the 2014 and 2013 data of E12-2B.
Question:
Prepare a comparative common-size income statement for Zinkowski, Inc. using the 2014 and 2013 data of E12-2B. Round percentages to the nearest tenth of a percent.
Transcribed Image Text:
Zinkowski, Inc Comparative Income Statement Years Ended December 31, 2014 and 2013 2014 2013 Revenue $480,000 $411,100 Expenses Cost of Goods Solo Selling and General Expenses Interest Expense Income Tax Expense $254,000 110,000 6,500 46,600 417,100 62,900 $226,000 105,500 2,000 45,000 378,500 32,600 Total Expenses Net Income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (9 reviews)
Total Revenues Expenses Zinkowski Inc CommonSize Income ...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
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
Question Posted:
Students also viewed these Corporate Finance questions
-
The 2014 and 2013 comparative balance sheets and 2014 income statement of Sudan Medical Supply Corp. Follow: Sudan Medical Supply had no noncash investing and financing transactions during 2014....
-
The 2014 and 2013 comparative balance sheets and 2014 income statement of Sommar Medical Supply Corp. follow: Sommar Medical Supply had no noncash investing and financing transactions during 2014....
-
The following items Include the 2014 and 2013 balance sheet information and the 2014 income statement of the Kushnir Corporation. Additional information about the company's 2014 transact is presented...
-
Find the values of the parameter p > 0 for which the following series converge. In k
-
Consider three periods of American history: (a) The early 1800s, when Jones lived on an isolated farm cut off from the rest of the world; (b) The late 1940s, when Smith lived in a country where...
-
Malcolm Phillips is a sole trader who prepares his financial statements annually to 30 April. His summarized statements of financial position for the last two years are shown below. Malcolm is...
-
Calculate the pressure change \(\left(p_{2}-p_{1} ight)\) for the jet pump shown in Fig. P5.52. The fluid is \(20{ }^{\circ} \mathrm{C}\) water. Assume negligible friction at the walls and uniform...
-
Zimmerman Clothiers manufactures womens business suits. The company uses a standard cost accounting system. In March 2014, 15,700 suits were made. The following standard and actual cost data applied...
-
Consider a non-rotating space station in the shape of a long thin uniform rod of mass 5.37 x 10^6 kg and length 1130 meters. Rocket motors on both ends of the rod are ignited, applying a constant...
-
'I know headquarters wants us to add that new product line, said Dell Havasi, manager of Billings Companys Office Products Division. But I want to see the numbers before I make any move. Our...
-
Marys Gift Store requested that you perform a vertical analysis of its balance sheet to determine the component percentages of its assets, liabilities, and shareholders equity. Round to the nearest...
-
The financial statements of Vacation, Inc. include the following items: Requirement Compute the following ratios for the current year: (a) Current ratio, (b) Quick ratio, (c) Inventory turnover, (d)...
-
A health care facility in a metropolitan area is interested in the efficiency of its laboratory turnaround time. Based on data collected over last year, the mean turn around time was found to be 55...
-
The following balances were extracted from the books of a Manufacturing company at the end of December 2021. As the Cost Accountant you are required to classify the costs in different categories for...
-
Inter Parfums is a company active in subsidiaries, manufacturers, markets, and distributes vary series of perfumes. Due to covid-19 related, their products were stuck in China untouch. Question: What...
-
Lindenwood University, a private university in Saint Charles, Missouri joined the NCAA's Division I level in the Fall of 2022. In December 2023, it announced that it was eliminating ten varsity...
-
List the outcomes (quality ratings) of the NQS assessment and quality rating process each Early childhood education and care regulated service can achieve after being assessed by their state and...
-
Why should we adopt a progressive agenda, and what will it take to make it happen?
-
Will owns residential rental property that is destroyed by a tornado in March 2020. He files a claim with his insurance company and receives $90,000 for the property. The building is fully...
-
Distinguish among total-moisture content, free-moisture content, equilibrium-moisture content, unbound moisture, and bound moisture.
-
Identify whether each of the following would be reported as an operating, investing, of financing activity in the statement of cash flows. a. Retirement of bonds payable b. Payment of accounts...
-
Identify whether each of the following would be reported as an operating, investing, or financing activity in the statement of cash flows. a. Issuance of bonds payable b. Cash sales c. Collection of...
-
Martin corporations accumulated depreciation-furniture increased by $10,500, while $3,850 of patents were amortized between balance sheet dates. There were no purchases or sales of depreciable or...
-
Compare and contrast strategic leadership against other leadership models including situations that call for strategic leadership versus other models of leadership and why.
-
Describe the role of Leadership in healthcare. Describe the role of Strategic Leadership in healthcare. Describe the difference between Leadership and Strategic Leadership in healthcare.
-
What is a good Annotated Bibliography for the following three books? Re-Thinking Strategic Leadership in the Digital Age by Sabine Dembkowski Exploring the Concept of Strategic Leadership by...
Study smarter with the SolutionInn App