Sunland Company reported the following in its 2022 and 2021 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net Income Gross profit rate 2022 Profit margin $152,000 91.200 30,400 18,000 $12.400 2022 2021 $122.000 73,200 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, eg 52.7%) 14,640 10.000 $24.160 2021

Assume the following sales data for a company:   Current year $770,668   Preceding year 635,551 What is the percentage increase in sales from the preceding year to the current year? a.121.26% b.17.53% c.82.47% d.21.26%

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Assume the following sales data for a company: Line Item Description Amount Current year $883,993 Preceding year 542,076 What is the percentage increase in sales from the preceding year to the current year? a. 63.08% b. 61.32% c. 163.08% d. 38.68%

Current Attempt in Progress Operating data for Grouper Corp. are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $840,000 540,120 133,560 57,120 31,920 77,280 2021 $610,000 405,650 80,520 46,970 26,840 50,020 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)

10: Application of Financial Ratios Used to Measure Profitability The income statement of Garnet Mfg. Corp. for 2018 shows the following: Sales, net P 700,000 15,000 400,000 Net credit sales Cost of goods sold Cost of goods manufactured Net credit purchases 410,000 150,000 225,000 90,000 212,500 20,000 Raw materials used Net income Total operating expenses Depreciation Net income 90,000 The balance sheet figures as of December 31, 2017 and 2018 are as follows: December 31 2017 2018 P12,500 P 25,000 Cash 17,500 28,750 Marketable securities 10,000 20,000 Accounts receivable, net Inventories: 25,000 35,000 Finished goods Work in process 22,500 15,000 3,750 P 150,000 37,500 17,500 10,000 Raw materials Prepaid expenses Total current assets 2,500 P95,000 37,500 Investments 117,500 187,500 Plant, property and equipment, net

Below is a comparative income statement for Akerley Co.: Akerley Co. Income Statement For the years ended December 31 2024 2023 $168,000 90,000 78,000 32,000 46,000 2,000 44,000 $151,000 78,000 73,000 Sales Cost of goods sold Gross profit Operating expenses Opcrating income Interest expense 30,000 43,000 3,000 40,000 10,000 $30,000 Income before taxes 11,000 $33,000 Income taxes Net income Required: USING MS EXCEL a. Prepare a horizontal analysis for the company calculating the change and percentage change of each line item from one year to the next. (Round your answers to the nearest tenth of a percent, ie 0.13578 → 13.6%) b. Which item/items in your analysis would you wish to investigate? Why?

Miles Manufacturing has prepared the following sales budget for the first four months of the year: SALES: January - 20,000February - 22,000March - 25,000April - 21,000 Miles estimates that it will begin the year with 3,000 units in inventory. The company wants to end each month with inventory equal to 25% of the next month's projected sales. Prepare a production budget for each month: January, February and March.   Show your work!

K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...

Blanco, Inc. has the following income statement (in millions): BLANCO, INC. Income Statement For the Year Ended December 31, 2010 Net Sales $200 Cost of Goods Sold 120 Gross Profit 80 Operating Expenses 44 Net Income $ 36 Using vertical analysis, what percentage is assigned to operating expenses? Select one :- a. 22% b. 18% c. 55% d. 70%