Presented below are the comparative incomes and retained earnings statements for Blue Inc. for the years 2017 and 2018.     2018   2017 Sales   $353,000     $276,000   Cost of sales   195,000     150,000   Gross profit   158,000     126,000   Expenses   89,600     49,100   Net income   $68,400     $76,900   Retained earnings (Jan. 1)   $121,500     $69,900   Net income   68,400     76,900   Dividends   (30,800 )   (25,300 ) Retained earnings (Dec. 31)   $159,100     $121,500   The following additional information is provided: 1.   In 2018, Blue Inc. decided to switch its depreciation method from sum-of-the-years’ digits to the straight-line method. The assets were purchased at the beginning of 2017 for $102,500 with an estimated useful life of 4 years and no salvage value. (The 2018 income statement contains depreciation expense of $30,750 on the assets purchased at the beginning of 2017.) 2.   In 2018, the company discovered that the ending inventory for 2017 was overstated by $21,900; ending inventory for 2018 is correctly stated. Prepare the revised retained earnings statement for 2017 and 2018, assuming comparative statements. (Ignore income taxes.)

Refer to the balance sheets and income statement below for Facebook Inc. FACEBOOK INC. Consolidated Statement of Income For Year Ended December 31, $ millions 2018 Revenue $53,325 Costs and expenses   Cost of revenue 9,355 Research and development 10,273 Marketing and sales 7,846 General and administrative 3,451 Total costs and expenses 30,925 Income from operations 22,400 Interest and other income (expense), net 448 Income before provision for income taxes 22,848 Provision for income taxes 3,249 Net income $19,599 FACEBOOK INC. Consolidated Balance Sheet At December 31, $ millions 2018 2017 Current assets     Cash and cash equivalents $10,019 $8,079 Marketable securities 31,095 33,632 Accounts receivable, net 7,246 5,832 Prepaid expenses and other current assets 1,779 1,020 Total current assets 50,139 48,563 Property and equipment, net 24,683 13,721 Intangible assets, net 1,294 1,884 Goodwill 18,301 18,221 Other…

Here is the income statement for Splish Brothers Inc. SPLISH BROTHERS INC.Income StatementFor the Year Ended December 31, 2022 Net sales   $442,900 Cost of goods sold   258,800 Gross profit   184,100 Expenses (including $16,100 interest and $21,600 income taxes)   74,700 Net income   $ 109,400 Additional information: 1.   Common stock outstanding January 1, 2022, was 22,500 shares, and 35,800 shares were outstanding at December 31, 2022. (Use a simple average for weighted-average.) 2.   The market price of Splish Brothers stock was $15 on December 31, 2022. 3.   Cash dividends of $23,600 were declared and paid. Compute the following measures for 2022. (Round earnings per share to 2 decimal places, e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%) (a)   Earnings per share   $enter Earnings per share in dollars rounded to 2 decimal places    (b)   Price-earnings ratio   enter a number for Price-earnings ratio in times…

The following information is available for Crest Company:   Annual Data 2013 2012 Sales revenue $6,600,000 $6,000,000 Cost of goods sold 4,008,400 3,720,000 Net income 310,300 264,000   Year-End Data Dec. 31, 2013 Dec. 31, 2012 Total assets $2,750,000 $2,360,000 Common stockholders' equity 1,800,800 1,800,000 Calculate the following ratios for 2013:   a. Gross profit percentage   b. Return on sales