List five ratios that are automatically provided by the vertical analysis of income statements.

Explain the three major items reportedon the income statement.

a. List the four types of financial statements b.Describe the interrelationshipbetween balance sheet and the income statement

Which of the following expenses is usually listed last on the income statement?  a. Advertising expense b. Income tax expense c. Salaries and benefits expense d. Cost of sales

What is vertical analysis? What item is used as the base for the income statement? What item is used as the base for the balance sheet?

Using the information provided below from Ben Company prepare two income statements: A normal GAAP Income Statement A CVP Income Statement These Income Statements should be done in good form and in Excel. Include formulas.

when putting together an income statement do the revenues and expenses have to put in order from highter amount to lowest?

Comparative Income Statement Use the following comparative income statement form to enter amounts you identify from the computations on the Liquidity and Solvency Measures part and on the Profitability Measures part. Compute any missing amounts and complete the horizontal analysis columns. Enter percentages as decimal amounts, rounded to one decimal place. When rounding, look only at the figure to the right of one decimal place. If 5, round up. For example, for 32.048% enter 32.0%. For 32.058% enter 32.1%. Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other expense (interest) Income before income tax expense Income tax expense Net income Comparative Income Statement For the Years Ended December 31, 20Y6 and 20Y5 $ 20Y6 8,250,000 X (1,242,000) 20Y5 $7,287,000 (3,444,000) $3,843,000 $(1,457,600) (1,106,000) $(2,563,600) $1,279,400 (120,600) $1,158,800 (181,980) $976,820 $ $ $ Increase/(Decrease) Amount 823,000 X…

On a multiple step income statement, the account interest expense would be located under A) Net sales B) COGS C)  Other Revenues and expenses