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Horizontal analysis of income statement (No incorrect answers so far most Experts today are giving me false answers)  For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1   20Y2 20Y1 Sales $ 16,800,000 $ 15,000,000 Cost of goods sold (11,500,000) (10,000,000) Gross profit $ 5,300,000 $ 5,000,000 Selling expenses $ (1,770,000) $ (1,500,000) Administrative expenses (1,220,000) (1,000,000) Total operating expenses $ (2,990,000) $ (2,500,000) Operating income $ 2,310,000 $ 2,500,000 Other revenue 256,950 225,000 Income before income tax expense $ 2,566,950 $ 2,725,000 Income tax expense (1,413,000) (1,500,000) Net income $ 1,153,950 $ 1,225,000 1. Prepare a comparative income statement with horizontal analysis for the two-year…

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Quantitative Problem: At the end of last year, Edwin Inc. reported the following income statement (in millions of dollars): Sales Operating costs (excluding depreciation) EBITDA Depreciation $4,280.00 3,021.00 $1,259.00 315.00 $944.00 150.00 $ 794.00 198.50 595.50 Looking ahead to the following year, the company's CFO has assembled this information: EBIT Interest EBT Taxes (25%). Net income Year-end sales are expected to be 6% higher than $4.28 billion in sales generated last year. ▪ Year-end operating costs, excluding depreciation, are expected to increase at the same rates as sales. Depreciation costs are expected to increase at the same rate as sales. Interest costs are expected to remain unchanged. ▪ The tax rate is expected to remain at 25%. On the basis of this information, what will be the forecast for Edwin's year-end net income? Enter your answers as positive values. Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. Do not round…

Problem 18 (Profitability Ratios) a. Alpha Industries had an asset turnover of 1.4 times per year. If the retum on total assets (investment) was 8.4 percent, what was Alpha's profit margin? b. The following year, on the same level of assets, Alpha's asset turnover declined to 1.2 times and its profit margin was 7 percent. How did the retum on total assets change from that of the previous year?

Horizontal analysis of income statementFor 2012, McDade Company reported a decline in net income. At the endof the year, T. Burrows, the president, is presented with the followingcondensed comparative income Statement:   Instructions 1. Prepare a comparative income statement with horizontal analysis forthe two-year period, using 20Y1 as the base year. Round percentages toone decimal place.2. To the extent the data permit, comment on the significant relationshipsrevealed by the horizontal analysis prepared in (1).

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The following data is for questions 4 to 7 MI 1ST 10lsunten Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has nop amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, MA AUOT and the notes payable will be rolled over. Balance Sheet (Millions of S) Assets Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets and stai Liabilities and Equity level wo Accounts payable suzu ols eroja Notes payable Accruals Total current liabilities il of bozore al Long-term bonds Total debt Common stock Retained earnings Total common equity Total liabilities and equity being Income Statement (Millions of $) Net sales Operating costs except depr'n Depreciation Earnings bef int and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes Net income Other data: Shares outstanding (millions) Common dividends Int rate on notes payable &…

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Quantitative Problem: At the end of last year, Edwin Inc. reported the following income statement (in millions of dollars): Sales $4,300.00 Operating costs (excluding depreciation) 3,095.00 EBITDA $1,205.00 Depreciation 325.00 EBIT $880.00 Interest 160.00 EBT $720.00 Taxes (40%) 288.00 Net income $432.00 Looking ahead to the following year, the company's CFO has assembled this information: Year-end sales are expected to be 6% higher than $4.3 billion in sales generated last year. Year-end operating costs, excluding depreciation, are expected to increase at the same rates as sales. Depreciation costs are expected to increase at the same rate as sales. Interest costs are expected to remain unchanged. The tax rate is expected to remain at 40%. On the basis of this information, what will be the forecast for Edwin's year-end net income? Round your answers to two decimal places. Do not round intermediate calculations. Enter all values as positive numbers.   (in…

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