Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year Increase (Decrease) 2022 2021 Amount % Net sales $ 18,900,000 $ 15,600,000 $ 3,300,000 2.1 Cost of goods sold 13,154,400 7,066,800 6,087,600 86.1 Gross profit 5,745,600 8,533,200 (2,787,600) (32.6) 408,600 Operating expenses Depreciation expense 1,625,400 1,216,800 33.5 1,020,600 1,020,600 Inventory write-down 226,800 226,800 0.0 Loss (litigation) 1,530,900 312,000 1,218,900 39.0 Income before tax 1,341,900 5,983,800 4,641,900 0.7 Income tax expense 472,500 2,028,000 1,555,500 0.7 Net income $ 869,400 $ 3,955,800 $ 3,086,400 0.7

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Quick Ratio Calculate the quick ratio for Los Altos, Ic., for both years, using the financial statements displayed below. Round to nearest hundredth. 2020 2019 Quick Ratio Did the company's ability to pay its current liabilities improve over the two years? Los Altos, Inc. Income Statement For Years Ended December 31, 2020 and 2019 (in millions) 2020 2019 Net sales $13,000 $12,350 Cost of goods sold 6,600 6,240 Gross profit 6,400 6,110 Selling and administrative expenses 3,360 3,240 Income from operations 3,040 2,870 Interest expense 360 300 Income before income taxes 2,680 2,570 Income tax expense 504 480 Net income $2,176 $2,090 Los Altos, Inc. Balance Sheet December 31, 2020 and 2019 (in millions) 2020 2019 Assets Current assets Cash and cash equivalents $240 $480 Accounts receivable 1,080 960 Inventory 600 780 Other current assets 480 300 Total current assets 2,400 2,520 Property, plant, & equipment (net) 3,120 3,000 Other assets 6,840 7,080 Total assets $12,360 $12,600 Liabilities…

If Ivanhoe Company had net income of $627,000 in 2021 which reflected a 20% increase in net income over 2020, what was its 2020 net income? (Round answer to O decimal places, e.g. 5,250.) Net income in 2020 $

Summary financial information for Gandaulf Company is as follows. Compute the amount and percentage changes in 2022 using horizontal analysis, assuming 2024 is the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45,-45% or parentheses e.g. (45), (45%). Round percentages to 2 decimal places, e.g. 1.25%.) Current Assets Dec. 31, 2022 Dec. 31, 2024 $191,100 $210,000 $ Plant Assets 1,058,600 790,000 Total assets $1,249,700 $1,000,000 $ Increase (Decrease) in 2022 Amount Percent % % %

Manero Company included the following information in its annual report: 2019 2018 Sales $178,400 $162,500 102,500 Cost of goods sold 115,000 Operating expenses 50,000 50,000 Operating income 13,400 10,000 In a trend income statement for 2017, where 2017 is the base year, sales are expressed as: Multiple Choice 150.5% O100.0% 84,4% 92.6% 2017 $155,500 100,000 45,000 10,500

The income statements for Galaxy Tennis for the years ending December 31, 2021 and 2020, are provided below.Required:1. Complete the “Amount” and “%” columns to be used in a horizontal analysis of Galaxy Tennis income statement. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)   GALAXY TENNIS Income Statements For the Years Ended December 31       Increase (Decrease)   2021 2020 Amount % Net sales $6,030,000 $6,170,000     Cost of goods sold 2,810,000 2,900,000     Gross profit 3,220,000 3,270,000     Operating expenses 1,490,000 1,374,000     Operating income 1,730,000 1,896,000     Other income (expense) 56,000 77,000     Income before tax 1,786,000 1,973,000     Income tax expense 382,000 431,000     Net income $1,404,000 $1,542,000

Calculate Swifty's gross profit percentage and percentage markup on cost for each fiscal year. (Round answers to 2 decimal places, eg. 52.75.) Percentage gross profit Percentage markup on cost Fiscal 2023 35.74 % 3.43 % Fiscal 2022 36.13 % 5.67 %

Following are forecasts of Illinois Tool Works Inc. sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of December 31, 2018. Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. Reported Forecast Horizon Period $ millions 2018 2019 2020 2021 2022 Sales $14,030 $14,871 $15,763 $16,710 $17,712 NOPAT NOA Terminal Period $18,066 2,711 2,880 3,053 3,236 3,430 8,989 9,527 10,099 10,705 11,347 3,499 11,574 Answer the following requirements with the following assumptions: Assumptions Terminal period growth rate Discount rate (WACC) 2% 7.35% Common shares outstanding 328.1 million Net nonoperating obligations (NNO) $5,894 million (a) Estimate the value of a share of ITW's common stock using the residual operating income model (ROPI) model as of December 31, 2018. Forecast Horizon ($ millions) Reported 2018 Terminal 2019 2020 2021 2022 Period ROPI…