comparative income statements of Arab Manufacturing Company are shown below. 2019 2020 $38,610 $32,175 $25,740 25,100 19,950 S13,510 S12,225 $10,340 7,700 4,270 2018 Net sales Cost of sales 15,400 Gross profit Selling expenses Administrative 6,565 5,148 4,175 3,861 expenses Total operating S11,970 $10,740 $ 9,009 expenses Operating S 1,540 S1,485 $ 1,331 income Interest expense 95 S 1,231 115 100 Net income S 1,425 S 1,390 before tax Income taxes 655 645 $ 770 $ 745 541 $ 690 Net income Required: a. Perform a vertical, common size analysis of the income statement data for Arab Manufacturing Company in columnar form, using sales as the base. b. Comment briefly on significant trends and relationships revealed by the computations.52 PI
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- HIC GROUP OF Companies COMPARATIVE INCOME STATEMENT For years ended 3rd December 2019 2020 Revenue and gains Sales revenue 495,500 496,738.75 Interest revenue 278,500 279,196.25 Investment Income 71,700 71,879.25 Other revenue 101,500 101,753.75 Total revenue and gains 947,200 949,968 Expenses and losses Cost of good sold 450,000 447,750 Selling&administrative 185,000 184,075 Computer (operating) 42,500 42,288 Depreciation 50,000…Use the given statement of comprehensive income below in answering the question. DEF Company, Income Statement 2021 2020 Sales P10,200.00 P9,600.00 Cost of Goods Sold P3,000.00 P2,600.00 Gross Profit P7,200.00 P7,000.00 Operating Expenses P2,400.00 P2,200.00 Operating Profit P4,800.00 P4,800.00 Interest Expense P900.00 P800.00 Earnings before tax P3,900.00 P4,000.00 Income Tax P1,560.00 P1,600.00 Net Profit P2,340.00 P2,400.00 How many percent of the sales is the operating expenses in 2021 and 2020? A 8.82% and 8.33% 70.59% and 72.92% 29.41% and 27.08% 23.53% and 22.92%Use the given statement of comprehensive income below in answering the question. DEF Company, Income Statement 2021 2020 Sales P10,200.00 P9,600.00 Cost of Goods Sold P3,000.00 P2,600.00 Gross Profit P7,200.00 P7,000.00 Operating Expenses P2,400.00 P2,200.00 Operating Profit P4,800.00 P4,800.00 Interest Expense P900.00 P800.00 Earnings before tax P3,900.00 P4,000.00 Income Tax P1,560.00 P1,600.00 Net Profit P2,340.00 P2,400.00 What is the percent change of net profit? А -3.5% В 12.5% C) -12.5% -2.5%
- The comparative statements of Blossom Company are presented here: Blossom CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,899,640 $1,759,600 Cost of goods sold 1,067,640 1,015,100 Gross profit 832,000 744,500 Selling and administrative expenses 509,100 488,100 Income from operations 322,900 256,400 Other expenses and losses Interest expense 23,500 21,500 Income before income taxes 299,400 234,900 Income tax expense 93,500 74,500 Net income $205,900 $160,400 Blossom CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 126,900 111,900 Inventory 127,500 117,000 Total current assets 388,500 343,100 Plant assets…The comparative statements of Pharoah Company are presented here: Pharoah CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,898,740 $1,758,700 Cost of goods sold 1,066,740 1,014,200 Gross profit 832,000 744,500 Selling and administrative expenses 508,200 487,200 Income from operations 323,800 257,300 Other expenses and losses Interest expense 23,400 21,400 Income before income taxes 300,400 235,900 Income tax expense 93,400 74,400 Net income $207,000 $161,500 Pharoah CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 126,000 111,000 Inventory 127,400 116,900 Total current assets 387,500 342,100 Plant assets…GIVE THE COMPARATIVE INCOME STATEMENT HORIZONTAL AND VERTICAL ANALYSIS FROM THE FOLLOWING INCOME STATEMENT BELOW JOLLIBEE INCOME STATEMENT ITEM 2016 2017 2018 2019 2020 Sales/Revenue 113.81B 133.61B 161.17B 179.63B 129.31B Sales Growth - 17.40% 20.62% 11.45% -28.01% Cost of Goods Sold (COGS) incl. D&A - - 132.96B 150.88B 115.39B COGS Growth - - - 13.47% -23.52% COGS excluding D&A 89.27B 105.39B 121.08B 137.38B 100.82B Depreciation & Amortization Expense 4B 4.75B 11.89B 13.5B 14.57B Depreciation 3.93B 4.66B 11.73B 13.34B 14.32B Amortization of Intangibles 68.99M 78.95M 151.82M 145.42M 245.23M Gross Income 20.54B 23.48B 28.21B 28.75B 13.92B Gross Income Growth - 14.30% 20.12% 1.93% -51.57% Gross Profit Margin - - - - 10.77% SG&A Expense - - 17.64B 20.21B 20.42B SGA Growth - - -…
- Assignment COMPARATIVE STATEMENTS Sikat Manufacturing Corporation Income Statement For the year ended Dec. 31, 2020 and 202019 2020 2019 P 5,150,000 -150,000 5,000,000 3,200,000 1,800,000 Sales 4,250,000 na 250.000 4,000,000 2.600,000 1,400,000 Less: Sales Returns and Allowances Net Sales Less: Cost of Sales Gross Profit Less: Operating Expenses Selling Expenses General and Administrative Expenses Total Operating Expenses Operating Income Less: Interest expense Net Income before tax Less: Income tax.(32% ) Net Income 720,000 780,000 1,500,000 300,000 60,000 240,000 76,800 P 163.200 600,000 600,000 1,200,000 200,000 40,000 160,000 51,200 P 108,800 Sikat Manufacturing Corporation Balance Sheet Dec. 31, 2020 and 2019 2020 2019 ASSETS P 225,000 150,000 240,000 260,000 120,000 150,000 70,000 550,000 P1.765.000 P 1,520,000 Cash P140.000 125,000 180,000 160,000 145,000 170,000 80,000 520,000 Marketable Securities Accounts Receivable Inventories: Finished Goods Work-in-Process Raw Materials…The following are comparative financial statements of Excellent Marketing Pte Ltd: Excellent Marketing Pte Ltd Comparative Income Statements For the year ended 31 December, 2021 2020 2019 Sales 298,200 249,000 215,700 COGS 108,890 84,262 66,200 Gross Profit 189,310 164,738 149,500 Selling Expenses 34,020 29,685 27,000 Administrative Expenses 25,140 21,915 23,550 Total Expenses 59,160 51,600 50,550 Profit before tax 130,150 113,138 98,950 Income tax Expenses 9,075 8,865 7,950 Net profit 121,075 104,273 91,000 (i) Show the income statement data for the three years in common-size percents. (ii) Interpret the percentage computed and elaborate on the changes to the company performance over the years presentedSelected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 442,035 $ 338,635 266,105 214,695 123,940 46,732 29,800 76,532 47,408 9,719 Sales Cost of goods sold Gross profit! Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings KORBIN COMPANY Comparative Balance Sheets Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2021, 2020, and 2019 2021 2020 Long-term investments Plant assets, net Total assets 175,930 62,769 39,783 102,552 73,378 13,648 $ 59,730 $ 37,689 Liabilities and…
- The comparative statements of Wahlberg Company are presented here. Wahlberg CompanyIncome StatementFor the Years Ended December 31 2020 2019 Net sales $1,813,600 $1,750,700 Cost of goods sold 1,007,100 978,000 Gross profit 806,500 772,700 Selling and administrative expenses 519,800 472,000 Income from operations 286,700 300,700 Other expenses and losses Interest expense 17,100 14,200 Income before income taxes 269,600 286,500 Income tax expense 80,015 77,500 Net income $ 189,585 $ 209,000 Wahlberg CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,600 $64,600 Debt investments (short-term) 69,100 50,300 Accounts receivable 117,500 102,800 Inventory 123,600 115,600 Total current assets 370,800 333,300…The comparative statements of Sunland Company are presented here: Sunland CompanyIncome StatementsFor the Years Ended December 31 2020 2019 Net sales $1,898,440 $1,758,400 Cost of goods sold 1,066,440 1,013,900 Gross profit 832,000 744,500 Selling and administrative expenses 507,900 486,900 Income from operations 324,100 257,600 Other expenses and losses Interest expense 23,900 21,900 Income before income taxes 300,200 235,700 Income tax expense 93,900 74,900 Net income $206,300 $160,800 Sunland CompanyBalance SheetsDecember 31 Assets 2020 2019 Current assets Cash $60,100 $64,200 Debt investments (short-term) 74,000 50,000 Accounts receivable 125,700 110,700 Inventory 127,900 117,400 Total current assets 387,700 342,300 Plant assets…Selected ratios formulars Unilever 2021 BOPP 2021 ROCE PBIT / net assets * 100 (32,424/39,406 *100 = - 82% 102,154 / 192,758 *100 =53% Net Assets Turnover Revenue / Net Assets 526,912 / 39,406 = 13 times 214,174 / 192,758 = 1 time Gross Profit Margin Gross profit / revenue *100 97,046 / 526,912 *100 18.4% 115,462 / 214,174 * 100 54% Net Profit Before Tax PBT / revenue * 100 (35,005) / 526,912* 100 = -6.6% 104,778 / 214,174* 100 =48.9% Current Ratio Current assets / current liabilities 214,665/341,171 = 0.5 139,104 / 30,368 = 4.5 Quick Ratio Current assets – inventory / current liabilities 214,665-91,627 /341,171 = 0.4 139,104 -13,248/ 30,368 = 4.1 Inventory Days Inventory / cost of sales * 365 days 91,627/ 429,866 *365 = 77 days 13,248 / 101,397 *365 = 47 days Receivable Days Receivables / cost of sales * 365 days 24,515 / 429,866 *365 =20 days 92,860 / 101,397 *365 =334 days Payable Days…