Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents 1 Year Ago 103.6% 109.9 101.4 Sales Cost of goods sold Operating expenses Current Year 100.0% 63.5 14.4 1 Year 2 Years Ago Ago 100.0% 100.0% 61.3 57.8 13.9 14.2 Current Year 104.8% 115.1 106.4 2 Years Ago 100.0% 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period?
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- Exercise 13-5 (Algo) Determining income effects from common-size and trend percents LO P1, P2 Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents Sales Cost of goods sold Operating expenses Current Year 100.0% 63.5 14.4 Change in Net Income 1 Year 2 Years Current Year 104.8% Ago 100.0% 61.3 13.9 Sales Cost of Goods Sold Operating Expenses Net Income Ago 100.0% 57.8 14.2 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. 115.1 106.4 101.4 Net Income Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. Current Year 1 Year Ago 2 Years Ago 105,000 $ 103,800 $ 100,000Exercise 17-5 (Algo) Determining income effects from common-size and trend percents LO P1, P2 Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents 1 Year Ago 100.0% 61.2 13.8 Sales Cost of goods sold Operating expenses Current Year 100.0% 63.4 14.3 Change in Net Income Net Income Trend Percents 1 Year Ago 103.4% 109.5 101.2 2 Years Current Ago Year 100.0% 104.6% 57.8 114.7 14.1 106.2 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period?Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. P nt 7 erences SC Sales Cost of goods sold Operating expenses Fn Change in Net Income Type here to search Sales Cost of Goods Sold Operating Expenses Net Income Net Income F1 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-y period? Complete this question by entering your answers in the tabs below. X Common-Size Percents 1 Year Ago Current Year 100.0% 63.4 14.3 F2 A Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? (Enter all amounts as positive values.) Current Year 100.0% 61.2 13.8 F3 E F6 2 Years Ago 100.0% 100.0 100.0 A + DELL F7 F8 F9 0 F
- #becausesneaker.... HW CH 17 Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of merchandise sold Selling expenses Administrative expenses Income tax expense Custom Order Sales Cost of merchandise sold Selling expenses a. Prepare an income statement in comparative form, statin each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Administrative expenses Income tax expense $483,000 280,140 82,110 86,940 14,490 Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount $483,000 280,140 82,110 86,940 14,490 percentage points, and administrative expenses net income as a percent of sales Current year Percent % % % % % % $420,000 218,400 79,800 71,400 21,000 % % % Previous year Amount $420,000 218,400 79,800 71,400 21,000 Previous year Percent b.…Question 3 of 10 Consider the following income statement data for Oriole Inc.: Sales revenue Less: Cost of goods sold Gross profit Less: Selling and administration costs Net Income O 103.6% 4 2024 $97700 49700 48000 24425 $23575 2023 $89900 55600 34300 18400 $15900 The common-size percentage for selling and administration costs in 2024 wasRequired A Required B Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. (Percentages may not add exactly due to rounding. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) STUART COMPANY Vertical Analysis of Income Statements Percentage of Sales Year 4 Percentage of Sales Year 3 Sales 100.0 % 100.0 % Cost of goods sold 70.5 66.2 Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income %
- Use the following selected Information from Letterman Corporation to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sale Year Year Net sales Cost of goods sold 2$ 538,600 $4 436,200 223,900 135,830 Operating expenses Net earnings 81,640 78,680 41,260 29,260 Multiple Choice 123.5% for Year 2 and 100.0% for Year 1. 7.7% for Year 2 and 6.7% for Year 1. 56.7% for Year 2 and 49.2% for Year 1. 176.3% for Year 2 and 203.3% for Year 1. 41.6% for Year 2 and 31.1% for Year 1.Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Sales Cost of goods sold Total expenses Current Yr 100.0% 63.6 Common-Size Percents 1 Yr Ago 100.0% 61.4 13.9 2 Yrs Ago 100.0% 57.6 14.2 Current Yr 104.9% 115.8 106.5 Trend Percents 1 Yr Ago 103. 74 2 Yrs Ago 100.0% 100.0 100.0 110.5 101.5 14.4 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Determine the net income for the following years. (Enter all amounts as positive values.) Current Yr 1 Yr Ago 2 Yrs Ago Sales 100,000 Cost of Goods Sold 57,600 14,200 Total Expenses Net Income %24 28,200 Hat Change in Net Income> Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? Net income…Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents Current 2 Years Year 1 Year Ago Sales 100.0% 100.0% Ago 100.0% Current Year 103.7% 2 Years 1 Year Ago Ago 102.5% 100.0% Cost of goods sold 63.3 61.1 56.7 115.8 110.5 100.0 Operating expenses 14.2 13.7 14.0 105.2 100.3 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. Sales Cost of Goods Sold Operating Expenses Net Income Current Year 1 Year Ago 2 Years Ago $ 100,000 56,700 14,000 $ 29,300 < Change in Net Income Nachicome D
- Required information ($ thousands) Net sales Cost of goods sold Current Year $ 885,182 396,513 Current Year: Prior Year: Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the base year. (Enter the answers in thousands of dollars.) Prior Year $ 456,779 137,643 Numerator: Trend Percent for Net Sales: Denominator: Trend Percent 0% 0%Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents Current 2 Years Year 1 Year Ago Ago Sales 100.0% 100.0% 100.0% Current Year 105.0% 2 Years 1 Year Ago 103.8% Ago 100.0% Cost of goods sold Operating expenses 63.3 14.4 61.1 13.9 57.3 14.2 116.0 110.7 100.0 106.6 101.6 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Income Net Income Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. Sales Cost of Goods Sold Operating Expenses Net Income Current Year 1 Year Ago 2 Years Ago $ 100,000 57,300 14,200 $ 28,500Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Common Size Percents Trend Percents 1 Year Ago: Current Year 100.0% 63.7 1 Year Ago 100.0% 61.5 2 Years Ago 100.0% 56.8 14.1 Current Year 104.4% 117.1 Sales: 2 Years Ago 100.0% 100.0 Cost of goods sold 103.2% 111.7 Operating expenses 14.3 13.8 105.9 101.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Change in Net Net Income Income Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? (Enter all amounts as positive values.) Current Year 1 Year Ago 2 Years Ago Sales S Cost of Goods Sold Operating Expenses Not Income < Change in Net Income $ 100,000 56,800 14,100 29,100