Question 3 Zarareez Company Comparative Statements of Comprehensive Income for years ended 31 December 2017 2016 (RM) (RM) Net Sales (all on account) Expenses Cost of goods sold Selling and administrative Interest expense Income tax expense Total expenses 600,000 520,000 415,000 354,000 120,800 114,800 7,800 6,000 18,000 14,000 561,600 488,800 Net Income 38,400 31,200 Zarareez Company
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- Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1, [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements. For Years Ended December 31 2021 Sales: Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets 2020 $436,580 $ 334,456 262,821 173,759 61,994 39,292 Long-term investments Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets December 31 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 212,045 122,411 46, 155 101,286 72,473 13,480 $ 58,993 $ 37,225 29,432 75,587 46,824 9,599 2021 $ 54,789 0 100, 200 $154,989 $ 22,628 72,000 9,000 51,361 2019 $ 232,100 148,544 83,556 30,637 19,264 49,901 33,655 6,832 $ 26,823 2020 $36,670 900 91,178…ect Assignment The preliminary 2024 income statement of Alexian Systems, Incorporated, is presented below: ALEXIAN SYSTEMS, INCORPORATED Income Statement. For the Year Ended December 31, 2024 ($ in millions, except earnings per share) Revenues and gains: Sales revenue Interest revenue Other income Total revenues and gains. Expenses: Cost of goods sold Selling and administrative expense Income tax expense Total expenses Net Income Earnings per share $ 435 6 128 569 247 158 41 446 $123 $ 12.30 Saved Help Additional information: 1. Selling and administrative expense includes $28 million in restructuring costs. 2. Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain on disposal. The remaining $8 million is from the gain on sale of investments. 3. Cost of Goods Sold in 2024 includes an increase of $10 million to correct an understatement of Cost of Goods Sold in 2023. The amount is material.…Question 13 The extract disclosed below relates to JohNicho Limited for the year ended December 31, 2021 JohNicho Limited Statement of Comprehensive Income for the year ended 31st December: Net Sales Cost of goods sold SG&A Other costs Operating Income (EBIT) Interest Extraordinary income EBT Taxes Net Income Non-current assets Property, Plant & Equipment Motor vehicles Furniture Total non-current assets Current assets Trade Receivables Other Current Assets Inventories Total Current Assets Total assets Current liabilities Accounts payable Other current liabilities Total Current Liabilities JohLex Limited Statement of Financial Position as at 31st December: 2020 GHC Long-term Debt Debenture Total non-current liabilities 10 Shareholders' equity Total Liabilities and Equity GHC 6,386 18,472 6,759 8,461 25,265 19,811 20,753 Required to calculate: (a) Inventory turnover period (in days) (b) Receivable collection period (in days) (c) Payable collection period (in days) (d) Working capital…
- Company's statement of income reported profit of 339000 interest expense 83000 income tax expense 116000 companys times intrest earned ratio is 1. 6.48 2. 4.64 3. 4.08 4. 5.08Walang Kayo Company Question: Under accrual basis, what amount should be reported as gross sales for the current year? a. P6,650,000 b. P6,600,000 c. P6,350,000 d. P6,550,000Subject 2 Part 1 Sanborn Corporation’s condensed comparative income statement and balance sheet for 20X8 and 20X7 appears below. Sanborn Corporation Comparative Income Statements in € For the Years Ended December 31, 20X8 and 20X7 20X8 20X7 Net Sales 3,276,800 3,146,400 Cost of goods (2,088,800) (2,008,400) Gross margin 1,188,000 1,138,000 Operating expenses Selling expenses (476,800) (518,000) General & administrative expenses (447,200) (423,200) Total operating expenses (924,000) (941,200) Income from operations 264,000 196,800 Interest expense (65,600) (39,200) Net income before taxes 198,400 157,600 Income taxes (62,400) (56,800) Net income after taxes 136,000 100,800 Earnings per share 3.40 2.52 Sanborn Corporation Comparative Balance Sheets in € December 31, 20X8 and 20X7 Assets 20X8 20X7 Liabilities &…
- Assume the following sales data for a company: Line Item Description Amount Current year $883,993 Preceding year 542,076 What is the percentage increase in sales from the preceding year to the current year? a. 63.08% b. 61.32% c. 163.08% d. 38.68%Required information Problem 13-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3 (The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 2019 Sales $ 442,035 $ 338,635 212,324 126, 311 $ 235,000 Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes 266, 105 150,400 175,930 62,769 39,783 102,552 73,378 13,648 $ 59,730 84,600 31,020 46,732 29,800 76,532 49,779 19,505 50,525 34,075 Income tax expense 10, 205 6,917 Net income $ 39,574 $ 27,158 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 2019 Assets Current assets $ 55,578 $ 37, 199 $ 49,726 Long-term investments Plant assets, net 900 4,570 56,095 104,820 $ 160,398 95,143 Total assets $ 133, 242 $ 110,391 Liabilities and Equity Current liabilities $ 19,853 $ 23,418 68,000 8,500…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 Sin Comparative Income Statements For Years Ended December 31 2021 $ 420,027 252,856 167,171 59,644 37,802 97,446 69,725 12,969 $ 56,756 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Assets Current assets Long-term investments Plant assets, net. Total assets Liabilities and Equity Current liabaties Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 321,775 202,718 KORBIN COMPANY Comparative Balance Sheets December 31 2021 119,057 44,405 28,316 72,721 46,336 9,499 $ 36,837 $ 55,286 0 102,674 $ 157,960 2020 3. Complete the below table to calculate the balance sheet data in trend percents with 2019 as answers to 2 decimal places.) 111.77 % 0.00 $ 37,003 700…
- 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…Current Attempt in Progress The comparative statements of Pharoah Company are presented here. Pharoah Company Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Selling and administrative expenses Income from operations Other expenses and losses Interest expense Income before income taxes Income tax expense Net income 2025 $2,104,400 1,167,000 937,400 570.000 367,400 25.080 342,320 102,696 $239,624 2024 $1,960,000 1,146.840 813,160 546,060 267.100 22,800 244.300 73,290 $171.010 Assets Current assets Cash Debt investments (short-term) Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Pharoah Company Balance Sheets December 31 Liabilities and Stockholders' Equity. Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity 2025 $68,514 84,360 134,292 143,640 430,806 739,860 $1,170,666 $182,400 49,590 231,990 250,800 482,790 2024…The following information is available for Sunland Corporation for the year ended December 31, 2022: sales revenue $840,000, other revenues and gains $91,000, operating expenses $101,000, cost of goods sold $466,000, other expenses and losses $30,500, and preferred stock dividends $40,950. The company's tax rate was 20%, and it had 70,000 common shares outstanding during the entire year. (a) Your Answer Correct Answer Your answer is partially correct. Prepare a corporate income statement. (List other revenues before other expenses.)