Required information[The following information applies to the questions displayed below.]Current YearedCash$ 11,500Prior Year$ 14,200Accounts receivable61,50027,000Equipment, netLandTotal assets59,00099,00052,00073,500$ 231,000$ 166,700Express the items in common-size percents.Note: Round your percentage answers to one decimal place.Current YearPrior YearCash%%cesAccounts receivable%%Equipment, net%%LandTotal assets%%0.0 %0.0 %

Step 1:Computation as follows : ParticularsCurrent YearExplanationPrior YearExplanation…

Answered: Required information [The following…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 11MCQ

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Perform a vertical analysis for the balance sheet entry "Accounts Payable" given below (as a %). (Round your answer to one decimal place.)
Prepare a comparative balance sheet for both years, stating each asset as a percent total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal pla
Problem 17-2A (Algo) Ratios, common-size statements, and trend percer [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2021 $546,242 328,838 217,404 77,566 49,162 126,728 90,676 16,866 $ 73,810 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets December 31 2020 $ 418,466 263,634 2021 % 154,832 57,748 36,825 94,573 60, 259 12,353 $ 47,906 % $61,141 0 113,547…
Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) Current Year Prior Year Short-term investments $ 379,006 $ 237,965 Accounts receivable 101,137 105,306 Notes payable 0 92,802 Horizontal Analysis - Calculation of Percent Change Choose Numerator: / Choose Denominator: Percent Change = / Current Year Prior Year Dollar Change Percent Change Short-term investments $379,006 $237,965 % Accounts receivable 101,137 105,306 % Notes payable 0 92,802 %
Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) Current Year Prior Year Short-term investments $374,634 $234,000 101,e00 88,000 Accounts receivable 97,364 Notes payable Horizontal Analysis - Calculation of Percent Change Choose Numerator: Choose Denominator: Percent change = Current Year Prior Year Dollar Change Percent Change Short-term investments 24 374,634 $ 234,000 Accounts receivable 97,364 101,000 Notes payable 88,000
2) Ratios Based on the information given in picture #1, complete the following ratios for the last TWO years and indicate whether the trend is favorable or unfavorable. Note percentages and times should be to one decimal place (e.g. 14.8%; 5.8x) Liq./Solv. Ratios Current Yr. Prior Yr. Fav/Unfav. Current Ratio (X) {Total. Current Assets/ Total Current Liabilities} Quick Ratio (X) {Cash + Short term Investments + Current Receivables/ Current Liabilities} Day's Sales Uncollected (days) {Total Accounts Receivables / Sales x 365}
Using these data from the comparative balance sheets of Blossom Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable (net) $424,551 enter Accounts receivable in percentages on Dec. 31, 2022 % $ 333,450 enter Accounts receivable in percentages on Dec. 31, 2022 % Inventory 707,585 enter Inventory in percentages on Dec. 31, 2022 % 589,950 enter Inventory in percentages on Dec. 31, 2022 % Total assets 3,011,000 enter Total assets in percentages on Dec. 31, 2022 % 2,565,000 enter Total assets in percentages on Dec. 31, 2022 %
Calculate the Gross Margin of the most recent year. Enter answer as decimal (not percent. Example: .1234 is ok, 12.34% is not ok).
ok D Int = Print Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) 0 ferences # Short-term investments Accounts receivable Notes payable Percent Change = Short-term investments Accounts receivable Notes payable Type here to search Esc fo F1 1 X F2 $ Current Year $ 378,252 100,583 @ 2 0 Horizontal Analysis - Calculation of Percent Change Numerator: 1 Current Year F3 20 #m Prior Year $ 236,897 104,503 91,702 3 378,252 $ 100,583 F4 0 S4 Prior Year $ 236,897 104,503 91,702 F5 $ % 5 Denominator: Dollar Change F6 111,355 (3,920) (91,702) DELL F7 A Percent Change 29.4 % (26.7) % (100.0) % 6 F8 & 7 0 F9 * a 8 F10 9
Required 1. Compute each year’s current ratio. Round ratios to one decimal. 2. Express the income statement data in common-size percents. Round percents to two decimals. 3. Express the balance sheet data in trend percents with 2017 as the base year. Round percents to two decimals. Analysis Component 4. Comment on any significant relations revealed by the ratios and percents computed.
19. Using the following information, calculate the return on assets. Net income for November Total assets, November 1 5,000 76,000 Total assets, November 30 80,250 ... Identify the formula and then solve for return on assets (ROA). (Round the ROA to the nearest tenth percent, X.X%.) ÷ ROA %
1. Do the current Ration part 2. Please do a common-size comparative income statements for years Ended December 31,2022, 2019, and 2018 3. Do a balance sheet data in Trend Percents for December 31,2020, 2019, and 2018 Thank you

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