Kellogg Company is the world's leading producer of ready-to-eat o ading producer of grain-based convenience foods such as frozen waffles and ppose the following items were taken from its 2014 income statement a et. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Cash Notes payable $5.481 7,184 Bonds payable Inventory Sales revenue 3,390 334 Accounts payable Common stock Income tax expense 44 Interest 205
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- Analyze and compare Clorox and Procter & Gamble The Clorox Company (CLX) and The Procter & Gamble Company (PG) produce and sell packaged consumer products around the world. Income and interest expense information from financial statements for a recent year follows (in millions): Clorox Procter & Gamble Interest expense $88 $579 Income before income tax expense 983 13,369 a. Compute the times interest earned for each company. Round to one decimal place. Clorox: fill in the blank 1 Procter & Gamble: fill in the blank 2 b. If you were a lender to these two companies, which one appears to have the greater coverage of interest expense and thus the greater protection for your loan interest?A company reported the following data for the year ending 2018: Description Amount Sales Sales discount Sales returns and allowances $400,000 $16,000 $13,000 $117,000 $153,000 |Cost of goods sold |Operating expense Income tax expense $23,750 Compute the amount of gross profit to be reported on the income statement. a. $101,000 b. $117,000 c. $254,000 d. $124,750 Answer O O O OHEATLEY INTERNATIONAL INCOME STATEMENT FY 201X REVENUES COST OF GOODS SOLD Cost of Goods Sold So GROSS PROFIT (GROSS MARGIN) So OPERATING EXPENSES Selling Expenses Total Selling Expenses $0 General Expenses Total General Expenses $0 Total Operating Expenses $0 NET PROFIT (INCOME) BEFORE TAXES $0 Less: Income Tax Expenses (25%) $0 NET PROFIT (INCOME) AFTER TAXES $0 Introduction to Business (Carcioppolo) Name: . WHEATLEY INTERNATIONAL BALANCE SHEET December 31, 201X ASSETS Current Assets Total Current Assets $0 Fixed Assets Total Fixed Assets So Other Assets Total Other Assets $0 TOTAL ASSETS $0 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Total Current Liabilities $0 Long-Term Liabilities Total Long- Term Liabilities $0 Total Liabilities $0 Owner's Equity Total Owners' Equity $0 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $o
- Concord, Inc. has the following Income Statement (in millions): CONCORD, INC. Income Statement For the Year Ended December 31, 2026 Net Sales $145 Cost of Goods Sold 87 Gross Profit Operating Expenses Net Income 58 O 66.7% 40.0% 100.0% 60.0% 39 $19 Using vertical analysis, what percentage is assigned to gross profit?Common-Sized Income Statement Revenue and expense data for the current calendar year for Sorenson Electronics Company and for the electronics industry are as follows. Sorenson Electronics Company data are expressed in dollars. The electronics industry averages are expressed in percentages. SorensonElectronicsCompany ElectronicsIndustryAverage Sales $1,940,000 100 % Cost of goods sold (1,358,000) (76) Gross profit $582,000 24 % Selling expenses $(329,800) (9) % Administrative expenses (116,400) (9) Total operating expenses $(446,200) (18) % Operating income $135,800 6 % Other revenue and expense: Other revenue 38,800 4 Other expense (19,400) (3) Income before income tax $155,200 7 % Income tax expense (58,200) (5) Net income $97,000 2 % a. Prepare a common-sized income statement comparing the results of operations for Sorenson Electronics Company with the industry average. If…Computing NOPAT, NOPM and RNOA LVMH Moët Hennessy Louis Vuitton SE (LVMH) is a French multinational luxury goods conglomerate headquartered in Paris. The following information is selected from their 2017 annual report. (€ thousands) Revenue Operating income Net interest expense and other nonoperating expense Net income Operating assets Operating liabilities LVMH has an income tax rate of approximately 30% a. Compute LVMH's net operating profit after taxes (NOPAT) for 2017 and 2016. Round answers to the nearest whole number. 2016 € 2017 € 2017 2016 42,636 37,600 8,113 6,904 179 432 5,616 4,363 67,246 58,504 26,714 24,340 b. Compute LVMH's net operating profit margin (NOPM) for each year. Round answers to one decimal place. (Ex: 0.2345 = 23.5%) %6 2016 2017 c. Compute LVMH's return on net operating assets (RNOA) for 2017. Round answers to one decimal place. (Ex: 0.2345 = 23.5%) 2017
- E1-11 Kellogg Company is the world's leading producer of ready-to-eat cereal and leading producer of grain-based convenience foods such as frozen waffles and cereal bars Suppose the following items were taken from its 2014 income statement and balance sheet. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Bonds payable Inventory Sales revenue $5,481 7,184 $ 4,835 910 12,575 1,077 Accounts payable Common stock Income tax expense 3,390 Cash 334 105 Notes payable Interest expense 44 498 295 Instructions Perform each of the following. (a) In each case, identify whether the item is an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E). (b) Prepare an income statement for Kellogg Company for the year ended December 31.Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $4,000,000 100.0 % Cost of goods sold (2,120,000) (60.0) Gross profit $1,880,000 40.0 % Selling expenses $(1,080,000) (24.0) % Administrative expenses (640,000) (14.0) Total operating expenses $(1,720,000) (38.0) % Operating income $160,000 2.0 % Other revenue and expense: Other revenue 120,000 3.0 Other expense (80,000) (2.0) Income before income tax expense $200,000 3.0 % Income tax expense (80,000) (2.0) Net income $120,000 1.0 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the…Data for Micatin Designs, Inc. follow: Data table Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 2024 2023 Net Sales Revenue $429,000 $374,000 Expenses: Cost of Goods Sold 201,000 187,000 Selling and Administrative Expenses 97,450 92,750 Other Expenses 8,500 3,250 Total Expenses 306,950 283,000 Net Income $122,050 $91,000 . Requirements 1. Prepare a comparative common-size income statement for Micatin Designs, Inc. using the 2024 and 2023 data. Round percentages to one-tenth percent. 2. To an investor, how does 2024 compare with 2023? Explain your reasoning.
- Required information [The following information applies to the questions displayed below.] Vitamix reports the following information for its year ended December 31: Cash sales Sales on credit General and administrative expenses Sales returns cost of goods sold Sales discounts Selling expenses Use the above information to prepare the gross profit section of a multiple-step income statement. VITAMIX $ 88,000 118,000 31,000 13,800 87,000 4,800 52,000 Income Statement For Year Ended December 31 $ 0 0 0Vertical analysis (common-size) percentages for Cullumber Company’s sales revenue, cost of goods sold, and expenses are listed here. Vertical Analysis 2022 2021 2020 Sales revenue 100.0 % 100.0 % 100.0 % Cost of goods sold 60.0 64.2 65.6 Expenses 24.7 27.1 29.5 Calculate Cullumber’s net income as a percent of sales. (Round answers to 1 decimal place, e.g. 5.2.) 2022 2021 2020 Net income Enter percentages rounded to 1 decimal place. Enter percentages rounded to 1 decimal place. Enter percentages rounded to 1 decimal place. Did Cullumber’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Cullumber’s net income as a percent of sales Choose the correct answer increaseddecreasedremained unchangedCommon-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $2,740,000 100 % Cost of goods sold 1,753,600 69 Gross profit $986,400 31 % Selling expenses $602,800 18 % Administrative expenses 219,200 7 Total operating expenses $822,000 25 % Operating income $164,400 6 % Other revenue 54,800 2 $219,200 8 % Other expense 27,400 1 Income before income tax $191,800 7 % Income tax expense 82,200 5 Net income $109,600 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive…