Selected information from the financial statements of Yellow Harvest includes the following:   2020 2019 Net sales.......................................... P2,200,000 P2,000,000 Total Expenses................................... 1,998,000 1,800,000 Required: a. Compute the percentage change in 2020 for the amounts of (1) net sales and (2) total expenses b. Using the information developed in a part a, express your opinion as to whether the company’s net income for 2020: 1. Increased at a greater or lower percentage rate than did net sales. 2. Represented a larger or smaller percentage of net sales revenue than in 2019. For each answer, explain your reasoning without making any computations or references to peso amounts.

24) Given these facts, calculate return on assets:   Sales................................................ $8,200,000   Net Income............................................ 3,050,000   Average Total Assets.............................................. 7,100,000   Average Total Liabilities........................................ 3,500,000   A.  22%.   B. 43%.   C. 85%.   D.  87%.

1. Multiple-step and single step income statement. Holler, Inc. has the following data for the year ended December 31, 2021: Discontinued operations loss ......................................... $20,000 Sales discounts…………………………………………………………..5,000 Cost of goods sold ......................................................... 145,000 Rent revenue……………………………………………………………12,000 Interest expense ............................................................ 2,000 Selling expenses ........................................................... 15,000 Administrative expenses ................................................ 33,000 Sales ............................................................................. 300,000 Retained Earnings, 1/1/20 ............................................. 280,000 Dividends declared ........................................................ 50,000 Tax rate of 22% on all items Shares of common stock outstanding, 10,000 Instructions a. Prepare a multiple-step income…

ABC Company's accounting records reported the followingaccount balances as of December 31, 2028:Inventory ................... $59,000Trademark ................... $16,000Interest revenue ............ $21,000Accounts receivable ......... $44,000Cost of goods sold .......... $30,000Utilities expense ........... $29,000Salaries payable ............ $14,000Accumulated depreciation .... $37,000Land ........................ ?Dividends ................... $ 9,000Notes payable ............... $48,000Common stock ................ ?Rental revenue .............. $35,000Supplies .................... $23,000Income tax expense .......... $18,000Retained earnings ........... $57,000 (at Jan. 1, 2028)Sales revenue ............... $99,000Equipment ................... $74,000Copyright ................... $38,000Accounts payable ............ $41,000Salaries expense ............ $27,000Cash ........................ $19,000Additional information:The total equity at December 31, 2028 was $196,000.Calculate…

2021 2020 2019 2018 2017 $ 394,032 199,466 19,071 $ 262,688 132,894 15,394 $ 205,225 $ 150,348 76,774 8,780 $ 112,200 56,100 Sales Cost of goods sold Accounts receivable 106,013 14,058 7,708 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: Numerator: Denominator: Trend percent 2021: % 2020: % 2019: % %3D 2018: % = 2017: % Is the trend percent for Net Sales favorable or unfavorable? Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent %3D 2021: % 2020: % 2019: % %3D 2018: % = 2017: %3D Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: Numerator: Denominator: Trend percent %3D 2021: % 2020: % %3D 2019: % = 2018: % 2017: % %3D Is the trend percent for Accounts Receivable favorable or unfavorable? II II IL || II

2021 2020 2019 2018 2017 Sales Cost of goods sold Accounts receivable $ 479,191 246,837 23,289 $ 315,257 $ 247,260 $ 167,634 $ 120,600 162,481 18,379 129,153 16,888 87,443 9,807 61,506 8,249 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three acco situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Trend Percent for Net Sales: Numerator: 1 Denominator: 1 1 Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Trend Percent for Cost of Goods Sold: Numerator: Denominator: 1 1 1 Is the trend percent for Cost of Goods Sold favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Trend Percent for Accounts Receivable: Numerator: Denominator: Is the trend percent for Accounts Receivable favorable or unfavorable? = Trend percent % 9900 = % = % = % % Trend percent % % % % % 11 Trend percent = % % % = % %

CALCULATE THE EBITDA     For the year ended December 31,   Notes 2020 2019 Revenue    ₱ 10,775,731.00  ₱ 11,334,976.00 Cost of Sales   7,175,540.00 7,552,700.00 Gross profit   3,600,191.00 3,782,276.00 General and Administrative expenses   3,278,202.00 3,417,740.00 Finance Cost Or Interest Expense   48,000.00 16,000.00 Net Income before Tax   273,989.00 348,536.00 Provision for Income Tax   82,197.00 104,561.00 NET INCOME AFTER TAX    ₱       191,792.00  ₱        243,975.00 (See Notes to Financial Statement)

2021 2020 2019 2018 2017 Sales $703,787 $ 463,018 $370,414 $256,342 $191,300 Cost of goods sold 361,331 237,839 192,311 132,684 97,563 Accounts receivable 33,993 27,133 25,299 14,996 13,066 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.

2020    Revenue   $432,000    Returns, allowances, discounts   ($21,600)    Cost of goods sold   ($280,800)    Operating expenses   ($45,000) Net Income   $84,600 Use the above information to calculated the gross margin/profit  ratio.

Calculate liquidity measures The following amounts were reported on theDecember 31, 2013, balance sheet: Cash.......................................... $ 8,000Accounts receivable .................. 22,000Common stock ......................... 40,000Wages payable ......................... 5,000Retained earnings ..................... 80,000Land .......................................... 20,000Accounts payable ..................... $ 15,000Bonds payable .......................... 120,000Merchandise inventory .............. 30,000Buildings and equipment, net ofaccumulated depreciation ..... 180,000 Required:a. Calculate working capital at December 31, 2013.b. Calculate the current ratio at December 31, 2013.c. Calculate the acid-test ratio at December 31, 2013.