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 4,250,000 ma 250,000 4,000,000 2,600,000 1,400,000 Sales 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 P163.200 600,000 600,000 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 Cash Marketable Securities P 225,000 150,000 240,000 260,000 120,000 150,000 70,000 550,000 P1.765.000 P140.000 125,000 180,000 160,000 145,000 170,000 80,000 520,000 P 1,520,000 Accounts Receivable Inventories: Finished Goods Work-in-Process Raw Materials Prepaid Expenses Machinery and Equipment.net TOTAL ASSETS

Sales Allowances Fitz-Chivalry Corporation reports the following information on its 2019 income statement. $ millions Gross sales 2017 2018 2019 $27,694 $30,738 $36,714 Allowance for sales returns Net sales 1,940 2,156 2,185 $25,754 $28,582 $34,529 Required Analysis of financial statements from prior years shows that the company consistently estimates the allowance for sales returns at about 7% of gross sales. What adjustment, if any, would we make to the 2019 income statement? Assume the company's combined federal and state tax rate is 24%. Hint: For adjustments to the income statement, we assume the normal 7% for the ratio of Allowance for sales returns to Gross sales for each year. Determine the 2019 adjusted allowance for sales return. (Round answer to nearest whole number.) $ millions Adjusted (total) allowance for sales returns $ 2019 0 Using the adjusted (total) allowance for sales returns computed above, determine the 2019 adjustments for the following income statement items.…

Sales revenue Cost of goods sold Gross profit Expenses Pretax income Income tax expense (30%) Net income 2016 $2,033,000 1,487,000 2017 $2,451,000 2018 $2,717,000 2019 $2,994,000 1,617,000 1,768,000 2,093,000 546,000 834,000 949,000 901,000 488,000 494,000 522,000 532,000 58,000 340,000 427,000 369,000 17,400 102,000 128,100 110,700 $40,600 $238,000 $298,900 $258,300 An audit revealed that in determining these amounts, the ending inventory for 2017 was overstated by $19,000. The company uses a periodic inventory system. 2. Compute the gross profit percentage for each year before the correction and after the correction. Note: Round your answers to the nearest whole percent. 2016 2017 2018 2019 Before correction % % % % After correction % % % %

practice please help with formula

GIVE THE COMPARATIVE INCOME STATEMENT 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 - - - 14.57% 1.02%…

Operating data for Blue Spruce Corp. are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $822,500 528,300 124,000 74,700 38,700 56,800 2021 $643,500 414,600 79,000 53,000 27,900 69,000 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)

Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income tax Income tax expense Net income (a) 2021 $1,595 900 695 524 171 80 Your answer is incorrect. 91 25 $66 2020 $1,387 $1,208 743 644 411 233 50 183 2019 46 596 612 402 210 40 170 43 $137 $127 Using horizontal analysis, calculate the horizontal percentage of a base-year amount, assuming 2019 is the base year. (Round answers to 1 decimal place, e.g. 5.2%. Enter negative amounts using either a negative sign preceding the number e.g. -45.1% or parentheses e.g. (45.1) %.)

SUNLAND COMPANYIncome StatementsFor the Years Ended December 31     2022   2021 Net sales   $2,178,400   $2,030,000 Cost of goods sold   1,207,000   1,187,080 Gross profit   971,400   842,920 Selling and administrative expenses   590,000   565,220 Income from operations   381,400   277,700 Other expenses and losses            Interest expense   25,960   23,600 Income before income taxes   355,440   254,100 Income tax expense   106,632   76,230 Net income   $ 248,808   $ 177,870 SUNLAND COMPANYBalance SheetsDecember 31 Assets   2022   2021 Current assets            Cash   $ 70,918   $ 75,756    Debt investments (short-term)   87,320   59,000    Accounts receivable   139,004   121,304    Inventory   148,680   136,290      Total current assets   445,922   392,350 Plant assets (net)   765,820   613,954 Total assets   $1,211,742…

(Current Purchasing Power Accounting, A Normative Accounting Theory) Financial statements in historical cost of Steven Ltd are shown as follows: Statement of financial performance for year ended 31 December 2022 Sales 1,650,000 Less Cost of goods sold 1,285,000 Gross profit 365,000 Less Operating expenses 156,000 201,600 45,600 163,400 Statement of financial position at the end of financial year 31-Dec 31-Dec 2021 2022 150,000 175,000 165,000 870,000 1,360,000 170,000 450,000 740,000 1,360,000 Depreciation Net profit Assets Current assets Cash Accounts receivable Inventory Non-current assets Equipment (net depreciation) Total assets Liabilities Current liabilities Accounts payable Shareholders' equity Share capital Retained profit Total liabilities and equity of + 317,000 350,000 210,000 824,400 + 1,701,400 348,000 450,000 903,400 1,701,400 K

Sales Revenue Less: Cost of Goods Sold Gross Profits Less: Operating Expenses Operating Profits Less: Interest Expense Net Profits Before Taxes Less: Taxes (40%) Net Profits After Taxes Assets Cash Income Statement Pulp, Paper and Paperboard, Inc. For the Year Ended December 31, 2019 Accounts receivable Inventories Total current assets Gross fixed assets Less: Accumulated depreciation Net fixed assets Total assets Liabilities and stockholders' equity Current liabilities Balance Sheet Pulp, Paper and Paperboard, Inc. December 31, 2019 Accounts payable Notes payable Accruals Total current liabilities Long-term debts Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Calculate the following: NP, GP $2,080,976 1,701,000 $ 379,976 273,846 $ 106,130 19,296 S 86,834 34,810 S 52,024 Current Ratio - Quick Ratio Receivable days - Payable days $ 95,000 237,000 243.000 $ 575,000 500,000 75.000 $ 425,000…