For 20Y2, Fielder Industries Inc. initiated a sales promotion campaign that included the expenditure of an additional $40,000 for advertising. At the end of the year, Leif Grando, the president, is presented with the following condensed comparative income statement: Fielder Industries Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $1,300,000 $1,180,000 Cost of goods sold (682,500) (613,600) Gross profit $617,500 $566,400 Selling expenses $(260,000) $(188,800) Administrative expenses (169,000) (177,000) Total operating expenses $(429,000) $(365,800) Operating income $188,500 $200,600 Other revenue 78,000 70,800 Income before income tax expense $266,500 $271,400 Income tax expense (117,000) (106,200) Net income $149,500 $165,200 Required: Question Content Area 1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round to one decimal place. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Fielder Industries Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Sales $1,300,000 fill in the blank 18ccc5059fadffc_1% $1,180,000 fill in the blank 18ccc5059fadffc_2% Cost of goods sold (682,500) fill in the blank 18ccc5059fadffc_3% (613,600) fill in the blank 18ccc5059fadffc_4% Gross profit $617,500 fill in the blank 18ccc5059fadffc_5% $566,400 fill in the blank 18ccc5059fadffc_6% Selling expenses $(260,000) fill in the blank 18ccc5059fadffc_7% (188,800) fill in the blank 18ccc5059fadffc_8% Administrative expenses (169,000) fill in the blank 18ccc5059fadffc_9% (177,000) fill in the blank 18ccc5059fadffc_10% Total operating expenses $(429,000) fill in the blank 18ccc5059fadffc_11% $(365,800) fill in the blank 18ccc5059fadffc_12% Operating income $188,500 fill in the blank 18ccc5059fadffc_13% $200,600 fill in the blank 18ccc5059fadffc_14% Other revenue 78,000 fill in the blank 18ccc5059fadffc_15% 70,800 fill in the blank 18ccc5059fadffc_16% Income before income tax expense $266,500 fill in the blank 18ccc5059fadffc_17% $271,400 fill in the blank 18ccc5059fadffc_18% Income tax expense (117,000) fill in the blank 18ccc5059fadffc_19% (106,200) fill in the blank 18ccc5059fadffc_20% Net income $149,500 fill in the blank 18ccc5059fadffc_21% $165,200 fill

A vertical analysis of two income statements for Danielle's Design Services is shown below: Danielle's Design Services Income Statements For Years 1 and 2 Ending December 31   Year 2 Year 1   Amount Percent Amount Percent Fees earned $765,340 100.0% $696,520 100.0% Operating expenses:   Wages expense $254,000 33.2% $214,600 30.8% Rent expense 120,000 15.7% 108,000 15.5% Supplies expense 76,500 10.0% 98,715 14.2% Miscellaneous expense 11,680 1.5% 16,420 2.4% Total operating expenses $462,180 60.4% $437,735 62.9%* Net income $303,160 39.6% $258,785 37.1%* *Differences due to rounding Which of the following analyses reflect the data given? a.Wages expense and miscellaneous expense show an unfavorable trend, and rent and supplies expenses show an unfavorable trend. b.Wages expense and rent expense show a favorable trend, while supplies and miscellaneous expenses show an unfavorable trend. c.Wages expense and rent expense show an unfavorable trend, while…

Ratio Analysis of Comparative Financial Statements Amounts from the comparative income statement and balance sheet of Miller Electronics Corporation for the last two years are as follows: Miller Electronics CorporationComparative Income StatementFor Years Ended December 31, 20-2 and 20-1   20-2 20-1 Net Sales (all on account)   $643,800      $415,800    Cost of goods sold   387,260      254,650    Gross profit   $256,540      $161,150    Administrative expenses   $63,715      $41,626    Selling expenses   66,780      44,317    Total operating expenses   $130,495      $85,943    Operating income   $126,045      $75,207    Interest expense   1,316      1,241    Income before income taxes   $124,729      $73,966    Income tax expense   30,895      13,143    Net income   $93,834      $60,823      Miller Electronics CorporationComparative Balance SheetDecember 31, 20-2 and 20-1   20-2 20-1 Assets         Current assets:           Cash   $42,848…

Revenue and expense data for Young Technologies Inc. are as follows:   Year 2 Year 1 Sales $500,000   $440,000   Cost of merchandise sold 325,000   242,000   Selling expenses 70,000   79,200   Administrative expenses 75,000   70,400   Income tax expense 10,500   16,400     Required: Question Content Area a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent. Young Technologies Inc.Comparative Income StatementFor the Years Ended December 31, Year 2 and Year 1   Year 2 Amount Year 2 Percent Year 1 Amount Year 1 Percent   $- Select - - Select -% $- Select - - Select -%   - Select - - Select - - Select - - Select -   $- Select - - Select -% $- Select - - Select -%   $- Select - - Select -% $- Select - - Select -%   - Select - - Select - - Select - - Select - Total expenses $fill in the blank 86d00500602205c_26 fill in the…

View Policies Current Attempt in Progress Assume Sunland Company has the following reported amounts: Sales revenue $1,000,000, Sales returns and allowances $29,000, Cost of goods sold $649.599, and Operating expenses $215,600. (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit S (c) Compute income from operations.

The following items were taken from the financial statements of Kramer Manufacturing, Inc., over a 3-year period:          Item                           2021                2020                2019    Net sales                        $226,000         $212,000         $200,000 Cost of goods sold           150,000           140,000           125,000 Gross profit                     $ 76,000         $  72,000         $  75,000   Instructions Using horizontal analysis and 2019 as the base year, compute the trend percentages for net sales, cost of goods sold, and gross profit.              Item                            2021                2020                2019 Net sales                                   %                     %              100% Cost of goods sold                    %                     %               100% Gross profit                                %                     %               100%   Explain whether the trends are favorable or unfavorable for each…

Cochran corporation, Inc. has the following income statement: Cochran corporation, Inc.  Income statement For the year ended December 31, 2021 net sales                       $240 Cost of goods sold      $150 gross profit                    $90 Operating expenses      $65 Net income                      $25   Using vertical analysis, what percentage is assigned to operating expenses? a. 27,1% b. 43.3% c. 72.2% d. 260.0%

please provide answer with calculatino

Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31 are as follows:       Current Year       Previous Year Sales $2,240,000      $2,000,000    Cost of goods sold (1,925,000)     (1,750,000)   Gross profit $315,000      $250,000    Selling expenses $(152,500)     $(125,000)   Administrative expenses (118,000)     (100,000)   Total operating expenses $(270,500)     $(225,000)   Income before income tax expense $44,500      $25,000    Income tax expense (17,800)     (10,000)   Net income $26,700     $15,000      a.  Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place.

Vertical Analysis of Income Statement For 20Y2, Tri-Comic Company initiated a sales promotion campaign that included the expenditure of an additional $21,000 for advertising. At the end of the year, Lumi Neer, the president, is presented with the following condensed comparative income statement: Tri-Comic CompanyComparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1   20Y2   20Y1 Sales $741,000   $637,000 Cost of merchandise sold 348,270   337,610 Gross profit $392,730   $299,390 Selling expenses $148,200   $121,030 Administrative expenses 74,100   76,440 Total operating expenses $222,300   $197,470 Income from operations $170,430   $101,920 Other revenue 29,640   31,850 Income before income tax expense $200,070   $133,770 Income tax expense 81,510   50,960 Net income $118,560   $82,810 Required: Question Content Area 1.  Prepare a comparative income statement for the two-year period, presenting an analysis of each item in…