Prepare Common-size financials for the Balance Sheet and Income Statement for 2005 and 2006 Sales Cost of

Prepare Common-size financials for the Balance Sheet and Income Statement for 2005 and 2006

 

Transcribed Image Text:

Sales Cost of Goods Sold Gross Profit Depreciation Other Operating Expenses Earnings Before Interest and Tax Interest Expense Earnings Before Tax Income Tax Expense Net Income Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Financial Statements Income Statement For the Year Ended December 31 Property, Plant and Equipment Less: Accumulated Depreciation Property, Plant and Equipment, net Total Assets Accounts Payable Line of Credit Current Portion of Long-term Debt Total Current Liabilities Long-term Debt Equity Total Liabilities and Equity Balance Sheet As of December 31 2006 2005 6,500,000 5,550,000 3,965,000 3,385,500 2,535,000 2,164,500 485,600 287,200 1,690,000 1,387,500 359,400 489,800 331,956 160,125 27,444 329,675 10,978 131,870 16,467 197,805 2006 57,000 95,000 1,050,000 723,000 42,000 36,000 1,244,000 928,000 7,288,800 4,819,200 2,432,800 1,947,200 2005 110,000 59,000 4,856,000 2,872,000 6,100,000 3,800,000 440,556 165,000 570,638 353,000 325,346 162,000 1,336,540 680,000 3,253,460 1,620,000 1,510,000 1,500,000 6,100,000 3,800,000 Sales Cost of Goods Sold Gross Profit Depreciation Other Operating Expenses Earnings Before Interest and Tax Interest Expense Earnings Before Tax Income Tax Expense Net Income Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Financial Statements Income Statement For the Year Ended December 31 Property, Plant and Equipment Less: Accumulated Depreciation Property, Plant and Equipment, net Total Assets Accounts Payable Line of Credit Current Portion of Long-term Debt Total Current Liabilities Long-term Debt Equity Total Liabilities and Equity Balance Sheet As of December 31 2006 2005 6,500,000 5,550,000 3,965,000 3,385,500 2,535,000 2,164,500 485,600 287,200 1,690,000 1,387,500 359,400 489,800 331,956 160,125 27,444 329,675 10,978 131,870 16,467 197,805 2006 57,000 95,000 1,050,000 723,000 42,000 36,000 1,244,000 928,000 7,288,800 4,819,200 2,432,800 1,947,200 2005 110,000 59,000 4,856,000 2,872,000 6,100,000 3,800,000 440,556 165,000 570,638 353,000 325,346 162,000 1,336,540 680,000 3,253,460 1,620,000 1,510,000 1,500,000 6,100,000 3,800,000

Answer rating: 100% (QA)

Income Statement for 2005 Gross Profit as a percentage of Sales Gross Profit 2005 2164500 Sales 2005 5550000 Gross Profit Gross Profit Sales 100 2164500 5550000 100 3903 Depreciation as a percentage o... View the full answer