Actual November 2 Actual December 2021 North Actual January 2022 North Actual rebruary 20 North Actual...

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Actual November 2 Actual December 2021 North Actual January 2022 North Actual rebruary 20 North Actual April Actual May Actual June Actual July 2022 North 2022 North 2022 North 2022 North Actual September 2022 Actual October 2022 North North Actual November 2022 North Actual December 2022 North Budas Fahly 5066 North Budget March 2022 North Budget April 2022 North 2022 North Budget May June 2022 North Budget August 2022 Budget September 2022 Budget October 2022 Bugger November 2024 North Actual January 2022 South Actual February 2022 South Actual March 2022 South Actual April 2066 South Actual June 2022 South Actual July 2022 South Actual August 2022 South Actual September 2022 South Als n Budget May Budget June Budget July Budget August Actual December 2022 South Budget January 2022 South Budget February 2022 South Budget March 2022 South 99.000 2022 South 99.000 98,000 98,000 20,000 2022 South 2022 South 2022 South 96.805 110.049 99,000 99,000 Budget October 2022 South South Budget November 2022 Budget December 2022 7 8 25 30 28 2 18 35 30 25 35 & 58 NANAS! ( 76 1 28 31 10 17 15517 ~66666666 8822888E8%2222FRAN886822²88P8C2CPPP888888 ²8**¶Ð¢Õ¤Ã¶ÕÆÕÐÅ£§************ 52 81 55 56 4 568N55机555353555驱435549545352585258號吼吼的5吼成此的成451595 48 66 6 777777777 -- -- -- -- -- -- -- -- -- -- 28888 Packaging Bank and Moneris Marketing Other Exp otal Expenses 88 ww ax MMMMM m'm' mmmmmmmmm #TACH=485 F 000 Op Income Interest Explet Income 2,000 201 4,800 4,000 1000 !@@¶!>????]@!¯¯®X--¤¤¤¤•⠀⠀⠀ Database includes 2 years worth of actual data and one year of budget data for a retail business with 2 locations. In 2021, there was just one location, North. In January 2022, a new location, South, opened. Budget data is based on best estimates of business activity. Actual data included: Some maintenance costs that were expensed in Q4 Other Expenses North location were unexpected and not budgeted for. Sales Discounts can be impacted by competition (more competition, more discounts must be offered). In retail, industry averages include the following: COGS Wages + Benefits Rent + Utilities Percentage of Total Sales 33% 25% 10% Requirements: 1. Create an Income Statement by location and in total for both budget and actual data (row format) for both 2021 and 2022. 2. Use common size and specific ratios to analysize year over year results and to compare to budget data. 3. Create a 2023 Income Statement budget by location and in total including the following: 1. provide reasons for values 2. Budget for improved results and explain how the improvement will be achieved. In particular, the Net Profit for the South location must be improved. Use ratios, common size analysis and trend analysis to support your budget estimates and improvements. Actual November 2 Actual December 2021 North Actual January 2022 North Actual rebruary 20 North Actual April Actual May Actual June Actual July 2022 North 2022 North 2022 North 2022 North Actual September 2022 Actual October 2022 North North Actual November 2022 North Actual December 2022 North Budas Fahly 5066 North Budget March 2022 North Budget April 2022 North 2022 North Budget May June 2022 North Budget August 2022 Budget September 2022 Budget October 2022 Bugger November 2024 North Actual January 2022 South Actual February 2022 South Actual March 2022 South Actual April 2066 South Actual June 2022 South Actual July 2022 South Actual August 2022 South Actual September 2022 South Als n Budget May Budget June Budget July Budget August Actual December 2022 South Budget January 2022 South Budget February 2022 South Budget March 2022 South 99.000 2022 South 99.000 98,000 98,000 20,000 2022 South 2022 South 2022 South 96.805 110.049 99,000 99,000 Budget October 2022 South South Budget November 2022 Budget December 2022 7 8 25 30 28 2 18 35 30 25 35 & 58 NANAS! ( 76 1 28 31 10 17 15517 ~66666666 8822888E8%2222FRAN886822²88P8C2CPPP888888 ²8**¶Ð¢Õ¤Ã¶ÕÆÕÐÅ£§************ 52 81 55 56 4 568N55机555353555驱435549545352585258號吼吼的5吼成此的成451595 48 66 6 777777777 -- -- -- -- -- -- -- -- -- -- 28888 Packaging Bank and Moneris Marketing Other Exp otal Expenses 88 ww ax MMMMM m'm' mmmmmmmmm #TACH=485 F 000 Op Income Interest Explet Income 2,000 201 4,800 4,000 1000 !@@¶!>????]@!¯¯®X--¤¤¤¤•⠀⠀⠀ Actual November 2 Actual December 2021 North Actual January 2022 North Actual rebruary 20 North Actual April Actual May Actual June Actual July 2022 North 2022 North 2022 North 2022 North Actual September 2022 Actual October 2022 North North Actual November 2022 North Actual December 2022 North Budas Fahly 5066 North Budget March 2022 North Budget April 2022 North 2022 North Budget May June 2022 North Budget August 2022 Budget September 2022 Budget October 2022 Bugger November 2024 North Actual January 2022 South Actual February 2022 South Actual March 2022 South Actual April 2066 South Actual June 2022 South Actual July 2022 South Actual August 2022 South Actual September 2022 South Als n Budget May Budget June Budget July Budget August Actual December 2022 South Budget January 2022 South Budget February 2022 South Budget March 2022 South 99.000 2022 South 99.000 98,000 98,000 20,000 2022 South 2022 South 2022 South 96.805 110.049 99,000 99,000 Budget October 2022 South South Budget November 2022 Budget December 2022 7 8 25 30 28 2 18 35 30 25 35 & 58 NANAS! ( 76 1 28 31 10 17 15517 ~66666666 8822888E8%2222FRAN886822²88P8C2CPPP888888 ²8**¶Ð¢Õ¤Ã¶ÕÆÕÐÅ£§************ 52 81 55 56 4 568N55机555353555驱435549545352585258號吼吼的5吼成此的成451595 48 66 6 777777777 -- -- -- -- -- -- -- -- -- -- 28888 Packaging Bank and Moneris Marketing Other Exp otal Expenses 88 ww ax MMMMM m'm' mmmmmmmmm #TACH=485 F 000 Op Income Interest Explet Income 2,000 201 4,800 4,000 1000 !@@¶!>????]@!¯¯®X--¤¤¤¤•⠀⠀⠀ Database includes 2 years worth of actual data and one year of budget data for a retail business with 2 locations. In 2021, there was just one location, North. In January 2022, a new location, South, opened. Budget data is based on best estimates of business activity. Actual data included: Some maintenance costs that were expensed in Q4 Other Expenses North location were unexpected and not budgeted for. Sales Discounts can be impacted by competition (more competition, more discounts must be offered). In retail, industry averages include the following: COGS Wages + Benefits Rent + Utilities Percentage of Total Sales 33% 25% 10% Requirements: 1. Create an Income Statement by location and in total for both budget and actual data (row format) for both 2021 and 2022. 2. Use common size and specific ratios to analysize year over year results and to compare to budget data. 3. Create a 2023 Income Statement budget by location and in total including the following: 1. provide reasons for values 2. Budget for improved results and explain how the improvement will be achieved. In particular, the Net Profit for the South location must be improved. Use ratios, common size analysis and trend analysis to support your budget estimates and improvements. Database includes 2 years worth of actual data and one year of budget data for a retail business with 2 locations. In 2021, there was just one location, North. In January 2022, a new location, South, opened. Budget data is based on best estimates of business activity. Actual data included: Some maintenance costs that were expensed in Q4 Other Expenses North location were unexpected and not budgeted for. Sales Discounts can be impacted by competition (more competition, more discounts must be offered). In retail, industry averages include the following: COGS Wages + Benefits Rent + Utilities Percentage of Total Sales 33% 25% 10% Requirements: 1. Create an Income Statement by location and in total for both budget and actual data (row format) for both 2021 and 2022. 2. Use common size and specific ratios to analysize year over year results and to compare to budget data. 3. Create a 2023 Income Statement budget by location and in total including the following: 1. provide reasons for values 2. Budget for improved results and explain how the improvement will be achieved. In particular, the Net Profit for the South location must be improved. Use ratios, common size analysis and trend analysis to support your budget estimates and improvements.

Answer rating: 100% (QA)

Income Statements for Locations North and South and Combined for Years 2021 and 2022 Location North Year 2021 Category Actual Data of Sales Budget Data of Sales Net Sales 962461 100 995737 100 Cost of ... View the full answer