Prepare a horizontal analysis of the following comparative income statement of Zinkowski, Inc. Round percentage changes to
Question:
Prepare a horizontal analysis of the following comparative income statement of Zinkowski, Inc. Round percentage changes to the nearest tenth of a percent.
Requirement
Why did net income increase by a higher percent than total revenues increased during 2014?
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: 72% (11 reviews)
Net income increased by a higher percentage than total ...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ 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
-
Prepare a horizontal analysis of the following comparative income statement of Spellbound Designs. Why did net income increase by a higher percentage than net sales revenue during 2012? Spellbound...
-
Prepare a horizontal analysis of the following comparative income statement of Sunny Day Designs. Why did net income increase by a higher percentage than net sales revenue during 2012? Sunny Day...
-
Prepare a horizontal analysis of the following comparative income statement of Mariner Designs. Why did net income increase by a higher percentage than net sales revenue during2014? Mariner Designs...
-
Use the Ratio Test to determine the values of x 0 for which each series converges. 00 X' k=0
-
Why does the saying "No taxation without representation" make sense for public goods but not private goods? Explain the mechanisms by which individuals can "protest" against (a) Taxes that are...
-
You are required to draw up a statement of cash flows for K. Rock for the year ending 30 June 2017 from the following information using the IAS 7 layout. K. Rock Statement of Profit or Loss for the...
-
Figure P5.55 shows the configuration of the center (tailmounted) jet engine on an airliner. The airliner is cruising at altitude, and the velocities shown are relative to an observer on board....
-
Dannica Corporation produces products that it sells for $40 each. Variable costs per unit are $25, and annual fixed costs are $360,000. Dannica desires to earn a profit of $150,000. Required a. Use...
-
Please summarize the changing use of positive psychology over time, including how it compares with other theories in personality psychology. Consider the future relevance of positive psychology...
-
John Hall tried to unclog a floor drain in the kitchen of the restaurant where he worked. He used a drain cleaner called Zaps Blue Lye that contained crystalline sodium hydroxide (the chemical name...
-
The following data (dollar amounts in millions) are adapted from the financial statements of Drawler, Inc. Total Current Assets ........$11,983 Accumulated Depreciation ...... 1,429 Total Liabilities...
-
Compute trend percentages for net sales and net income for the following five-year period, using year 1 as the base year: Requirement Which grew faster during the period, net sales or net income?...
-
Flynn Inc. has two temporary differences at the end of 2012. The first difference stems from installment sales, and the second one results from the accrual of a loss contingency. Flynns accounting...
-
What do the authors say is sociologically significant about gaslighting? Why do they say psychological study of gaslighting is insufficient?
-
list three cases or articles of racial profiling or police violence in the Canada only in the past 7 years and list 6 scholarly sources that can help support the topic of either racial profiling or...
-
Sharing a compelling idea that could help lower or even prevent drunk driving among teens., provide a concrete idea and follow it up with actionable steps that could be taken.?
-
During the current year audit of a nonissuer, the audit team identified the same control deficiencies that were communicated during the prior year audit. These control deficiencies were not...
-
In the movie, " Kill the Messenger, starring Jeremy Renner, what is the " Dark Alliance " that Webb reported on? What challenges did Gary Webb faced verifying, confirming, and fact checking the...
-
Stan purchases machinery costing $100,000 for use in his business in 2021. The machinery is 7-year MACRS property and has an ADS life of 12 years. Complete a depreciation schedule using the regular...
-
The following selected accounts and normal balances existed at year-end. Notice that expenses exceed revenue in this period. Make the four journal entries required to close the books: Accounts...
-
On July 1, 2012, Bliss industries Inc. issued $24,000,000 of 20-year, 11% bonds at a market (effective) interest rate of 14%, receiving cash of $19,200,577. Interest on the bonds is payable...
-
Three different plans for financing a $40,000,000 corporation are under consideration by its organizers, under each of the following plans, the securities will be issued at their par of face amount,...
-
On July 1, 2012, Hallo Corporation, a wholesaler of communication equipment, issued $34,000,000 of 20-year, 12% bonds at a market (effective) interest rate of 13%, receiving cash of $31,595,241....
-
What interventions are the most beneficial to the clients your agency serves? Explain
-
Using the following predicates: square (x) is true if x is a square (otherwise it is false) star (x) is true if x is a star (otherwise it is false) circ(x) is true if x is a circle (otherwise it is...
-
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any common stock during the year. A total of...
Study smarter with the SolutionInn App