Spier Corporations controller has prepared the following vertical analysis for the president. Required Sales were $720,000 in
Question:
Required
Sales were $720,000 in 2014 and $800,000 in 2015. Convert the analysis to income statements for the twoyears.
Transcribed Image Text:
2015 2014 Sales Cost of goods sold Gross margin Selling and administrative expense Interest expense Total expenses Income before taxes Income tax expense Net income 100.0% 57.0 43.0 18.0 2.8 20.8 22.2 10.0 12.2% 100.0% 54.0 46.0 20.0 4.0 24.0 22.0 8.0 14.0%
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
Spier Corporation Income Statements For the Years Ended December 31 20...View the full answer
Answered By
SUMAN DINDA
I LIKE TO TEACH STUDENTS. SO, I START MYSELF AS A PRIVATE TUTOR. I TEACH STUDENTS OF DIFFERENT CLASSES. I HAVE ALSO DONE BACHELOR OF EDUCATION DEGREE(B.ED). DURING THIS COURSE I HAD TO TEACH IN A SCHOOL. SO I HAVE A GOOD EXPERIENCE IN TEACHING.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
Question Posted:
Students also viewed these Managerial Accounting questions
-
Burton Corporation's controller has prepared the following vertical analysis for the president: ____________________________________2019 2018 Sales.................................................
-
The bookkeeper for Nevado Company has prepared the following trial balance: The bookkeeper has asked for your help. In examining the company's journal and ledger, you discover the following errors....
-
The bookkeeper for Garfield Company has prepared the following balance sheet as of July 31, 2012. The following additional information is provided.1. Cash includes $1,200 in a petty cash fund and...
-
You would like to buy a house in in 16 years and estimate that you will need a deposit of $73,014. You plan to make bi-weekly deposits into an account that you hope will earn 7.05%. How much do you...
-
Carbon monoxide is toxic because it binds more strongly to the iron in hemoglobin (Hb) than does O2, as indicated by these approximate standard free-energy changes in blood: Using these data,...
-
In demonstrating a dance step, a person moves in one dimension, as shown in Fig. 2.21. What are (a) The average speed and (b) The average velocity for each phase of the motion? (c) What are the...
-
The composite pressure vessel in Problem 8.6 is subjected to an internal pressure that varies sinusoidally with time according to the relationship \(p(t)=P_{0}\) \(\sin t\), and the principal complex...
-
The December 22, 2009, edition of the Wall Street Journal has an article by Kevin Kelliker entitled In Risky Move, GM to Run Plants Around Clock. Instructions Read the article and answer the...
-
What would the pressure at the bottom of the tank in the previous question be if it were in an elevator accelerating upward at 2-m/s^2?
-
Mr. Harish Jain, CEO of Energetic Enterprises has established the firm for the manufacture and marketing of an innovative product. The firm earned a reputation for its product within two years of its...
-
Compute the specified ratios using the following December 31, 2014, statement of financial position for Palmer Company. Assets Cash ............... $ 90,000 Marketable securities ......... 10,000...
-
Coleman Companys stock is quoted at $16 per share at December 31, 2015 and 2014. Colemans financial statements follow. Questions next page Required Prepare a horizontal analysis of the balance sheet...
-
Perform the indicated operations and express results in simplest form. X 4x + 4x3 + 3 9 - 4x
-
Assignment Goals Answer the following questions. Points applicable for each of the questions are mentioned alongside the question 1. Implement a method for the class Telephone Directory of Segment...
-
Why volume based discount is preferred? Explain your answer with suitable example.
-
Western assembles computers in the owner's garage from parts the owner orders over the Internet. This industry is characterized by low barriers to entry, including few operating licenses or...
-
A crate with a mass of M = 83.5 kg is suspended by a rope from the midpoint of a uniform boom. The boom has a mass of m = 141 kg and a length of 1 = 8.69 m. The end of the boom is supported by...
-
GREENE CORPORATION Directions Read the scenario, then answer the question that follows. Scenario The Greene Corporation's historical scrap rate is 6% (units required over BOM units). Assuming the 6%...
-
A recent cohort study found an increased risk of childhood leukemia in children born to mothers who had previously chosen to use hormonal contraception (Hargreave et al. 2018). The study also noted...
-
The figure shows a bolted lap joint that uses SAE grade 8 bolts. The members are made of cold-drawn AISI 1040 steel. Find the safe tensile shear load F that can be applied to this connection if the...
-
Indicate whether or not you agree with the following statement: "The minimum bid-offer spread on common stock is in terms of one-eighths."
-
Nielsen Chairs Corporation produces ergonomically designed chairs favored by architects. The company normally produces and sells from 2,000 to 5,000 chairs per year. The following cost data apply to...
-
Shawn Corder needs extra money quickly to help cover some unexpected school expenses. Mr. Corder has learned fortune-telling skills through his long friendship with Fred Molloy, who tells fortunes...
-
In the evenings, Shawn Corder works telling fortunes using his friend Fred Molloy's booth at the city market. Mr. Molloy pays the booth rental, so Mr. Corder has no rental cost. As a courtesy, Mr....
-
Bronchial alveolar lavage and four endobronchial biopsies were performed and submitted to the insurance carrier as follows: 31625 x 4 units, 31624-51. Is this claim coded appropriately?
-
What goals are used to measure labor and management partnerships?
-
1. A Supervisor email you a question. 2. Potential client comes to your office. He has $40000 in wages on W-2. He also listed $30000 of charitable contributions, mostly clothing, on a single piece of...
Study smarter with the SolutionInn App