1. Complete the two final columns shown beside each item in Tiger Audio’s comparative financial statements.2-a. Which account increased by the largest dollar amount?2-b. Which account increased by the largest percentage? 1Req 1Reg 2AReq 2BComplete the two final columns shown beside each item in Tiger Audio's comparative financial statements. (Decreases shouldbe indicated by a minus sign. Round percentage values to 1 decimal place.)TIGER AUDIOHorizontal AnalysisIncrease (Decrease)in Current (versus Previous)BookCurrentPreviousAmountPercentageIncome StatementSales Revenue$ 231,500 $ 188,800%%%%PrintCost of Goods Sold137,150116,700Gross ProfitOperating ExpensesInterest Expense94,35072,100erences37,80032,8305,9004,980%Income before Income Tax Expense50,65034,290%Income Tax Expense (30%)15,19510,287%Net IncomeBalance Sheet$35,455 $24,003%Cash$23,680 $27,570%Accounts Receivable, Net16,90015,700%%%Inventory26,05022,700Property and Equipment, NetTotal AssetsAccounts Payable146,000128,500$ 212,630 $ 194,470%$25,200 $23,650%Income Tax Payable4,9004,320%Note Payable (long-term)Total Liabilities87,00099,000%117,100126,970Common Stock (par $1)27,00027,000%Retained EarningsTotal Liabilities and Stockholders' Equity%%68,53040,500$ 212,630 $ 194,470Req 1Req 2A > 1Tiger Audio declared and paid a cash dividend of $7,425 in the current year. Its comparative financialstatements, prepared at December 31, reported the following summarized information:Required:1. Complete the two final columns shown beside each item in Tiger Audio's comparative financialstatements.-Вook2-a. Which account increased by the largest dollar amount?2-b. Which account increased by the largest percentage?PrintComplete this question by entering your answers in the tabs below.erencesReq 1Reg 2AReq 2BComplete the two final columns shown beside each item in Tiger Audio's comparative financial statements. (Decreases shouldbe indicated by a minus sign. Round percentage values to 1 decimal place.)

Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Tiger Audio's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) TIGER AUDIO Horizontal Analysis Increase (Decrease) in Current (versus Previous) Current Previous Amount Percentage Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income $ 231,500 S 188,800 % % % % % % % % 137,150 116,700 94,350 72,100 37,800 32,830 5,900 4,980 50,650 34,290 15,195 10,287 35,455 S 24,003 Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net 23,680 S % % % % % % % % % % % % 27,570 16,900 15,700 26,050 22,700 146,000 $ 212,630 S 194,470 25,200 S 128,500 Total Assets Accounts Payable Income Tax Payable Note Payable (long-term) Total Liabilities 23,650 4,900 4,320 87,000 99,000 117,100 126,970 Common Stock (par $1) 27,000 27,000 Retained Earnings Total Liabilities and Stockholders' Equity 40,500 $ 212,630 S 194,470 68,530 %24

Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Tiger Audio's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) TIGER AUDIO Horizontal Analysis Increase (Decrease) in Current (versus Previous) Current Previous Amount Percentage Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income $ 231,500 S 188,800 % % % % % % % % 137,150 116,700 94,350 72,100 37,800 32,830 5,900 4,980 50,650 34,290 15,195 10,287 35,455 S 24,003 Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net 23,680 S % % % % % % % % % % % % 27,570 16,900 15,700 26,050 22,700 146,000 $ 212,630 S 194,470 25,200 S 128,500 Total Assets Accounts Payable Income Tax Payable Note Payable (long-term) Total Liabilities 23,650 4,900 4,320 87,000 99,000 117,100 126,970 Common Stock (par $1) 27,000 27,000 Retained Earnings Total Liabilities and Stockholders' Equity 40,500 $ 212,630 S 194,470 68,530 %24

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

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