The income statement, statement of retained earnings, and balance sheet for Jeanette Company are as follows: Jeanette Company Income Statement For the Year Ended December 31, 20X2   Amount   Percent Net sales $8,281,989   100.0% Less: Cost of goods sold (5,383,293)   65.0    Gross margin $2,898,696   35.0    Less: Operating expenses (1,323,368)   16.0    Operating income $1,575,328   19.0    Less: Interest expense (50,000)   0.6    Income before taxes $1,525,328   18.4    Less: Income taxes (40%)* (610,131)   7.4    Net income $915,197   11.0    * Includes both state and federal taxes.       Jeanette Company Statement of Retained Earnings For the Year Ended December 31, 20X2 Balance, beginning of period $1,979,155 Net income 915,197 Total $2,894,352 Preferred dividends (80,000) Dividends to common stockholders (201,887) Balance, end of period $2,612,465   Jeanette Company Comparative Balance Sheets At December 31, 20X1 and 20X2   20X1   20X2 Assets Current assets: Cash $2,875,000   $2,580,000 Marketable securities 800,000   700,000 Accounts receivable (net) 939,776   690,000 Inventories 490,000   260,000 Other 93,000   74,261    Total current assets $5,197,776   $4,304,261 Property and equipment: Land $1,575,000   $1,067,315 Building and equipment (net) 1,348,800   1,150,000    Total long-term assets $2,923,800   $2,217,315 Total assets $8,121,576   $6,521,576 Liabilities and Stockholders' Equity Current liabilities: Notes payable, short term $1,170,127   $ 543,641 Accounts payable 298,484   101,500 Current maturity of long-term debt 3,000   2,000 Accrued payables 200,000   57,780    Total current liabilities $1,671,611   $ 704,921 Long-term liabilities: Bonds payable, 10% 500,000   500,000    Total liabilities $2,171,611   $1,204,921 Stockholders' equity: Preferred stock, $25 par, 8% $1,000,000   $1,000,000 Common stock, $1.50 par 337,500   337,500 Additional paid-in capital* 2,000,000   2,000,000 Retained earnings 2,612,465   1,979,155    Total stockholders' equity $5,949,965   $5,316,655 Total liabilities and stockholders' equity $8,121,576   $6,521,576 * For common stock only.       Also, assume that the price per common share for Jeanette Company is $8.00. Required: Compute the price-earnings ratio. Round your interim calculations and final answer to two decimal places.

Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31 are as follows: Current Year Previous Year Sales $660,000 $500,000 Cost of merchandise sold 554,700 430,000 Gross profit $105,300 $70,000 Selling expenses $31,720 $26,000 Administrative expenses 28,600 22,000 Total operating expenses $60,320 $48,000 Income before income tax expense $44,980 $22,000 Income tax expenses 18,000 8,800 Net income $26,980 $13,200

Income statements for Franklin Company for Year 3 and Year 4 follow: FRANKLIN COMPANY Income Statements Year 4 Year 3 Sales $ 201,300 $181, 300 Cost of goods sold 143, 600 121,600 Selling expenses 20,100 18, 100 Administrative expenses 12,500 14,500 Interest expense 3, 900 5,900 Total expenses 180, 100 160, 100 Income before taxes 21, 200 21,200 Income taxes expense 6, 400 3,600 Net income $ 14,800 $ 17,600 Required Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

Cochran corporation, Inc. has the following income statement: Cochran corporation, Inc.  Income statement For the year ended December 31, 2021 net sales                       $240 Cost of goods sold      $150 gross profit                    $90 Operating expenses      $65 Net income                      $25   Using vertical analysis, what percentage is assigned to operating expenses? a. 27,1% b. 43.3% c. 72.2% d. 260.0%

Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $369,600 $280,000 Cost of goods sold 312,000 240,000 Gross profit $57,600 $40,000 Selling expenses $17,080 $14,000 Administrative expenses 15,600 12,000 Total operating expenses $32,680 $26,000 Income before income tax $24,920 $14,000 Income tax expenses 10,000 5,600 Net income $14,920 $8,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company Comparative Income Statement For the Years Ended December 31 Current Previous Increase Increase year year (Decrease) (Decrease) Amount Amount Amount Percent Sales $369,600 $280,000 $ % Cost of goods sold 312,000 240,000 % Gross profit $57,600 $40,000 %

Computing Earnings per Share The income statement, statement of retained earnings, and balance sheet for Jeanette Company are as follows: Jeanette CompanyIncome StatementFor the Year Ended December 31, 20X2   Amount   Percent Net sales $8,281,989    100.0% Less: Cost of goods sold (5,383,293)   65.0    Gross margin $2,898,696   35.0    Less: Operating expenses (1,323,368)   16.0    Operating income $1,575,328   19.0    Less: Interest expense (50,000)   0.6    Income before taxes $1,525,328   18.4    Less: Income taxes (40%)* (610,131)   7.4    Net income $915,197   11.0    * Includes both state and federal taxes.     Jeanette CompanyStatement of Retained EarningsFor the Year Ended December 31, 20X2 Balance, beginning of period $1,979,155 Net income 915,197 Total $2,894,352 Preferred dividends (80,000) Dividends to common stockholders (201,887) Balance, end of period $2,612,465   Jeanette CompanyComparative Balance SheetsAt December 31,…

Net sales Cost of goods sold Gross margin Operating expenses Net income Cash Accounts receivable, net Merchandise inventory Plant assets, net Total assets Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equity Goliath Company Comparative Income Statements For Years Ended December 31 Current Year One Year Ago $ 206,000 $ 184,000 108,000 121,000 85,000 45,000 $ 40,000 76,000 40,000 $ 36,000 Goliath Company Comparative Balance Sheets For Years Ended December 31 Current Year $ 153,000 58,000 30,000 170,000 $ 411,000 $ 36,000 190,000 60,000 125,000 $ 411,000 Required: Using the above information, compute the following: Two Years Ago $ 160,000 92,000 68,000 36,000 $ 32,000 One Year Ago $ 158,000 52,000 17,000 170,000 $ 397,000 $ 32,000 220,000 60,000 85,000 $ 397,000 Three Years Ago $ 114,000 78,000 36,000 19,000 $ 17,000 Two Years Ago $ 129,000 45,000 23,000 140,000 $ 337,000 $ 28,000 200,000 60,000 49,000 $ 337,000 Three Years Ago $ 156,000…

Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. Electronics Tannenhill Industry Company Average $1,390,000 100 % Sales 736,700 59 Cost of merchandise sold $653,300 41 % Gross profit $417,000 25 % Selling expenses Administrative expenses 152,900 10 Total operating expenses $569,900 35 % Income from operations $83,400 6 % Other revenue and expense: Other revenue 27,800 2 Other expense (13,900) 1 Income before income tax expense $97,300 7 % Income tax expense 41,700 Net income $55,600 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. econ.docx Show all Type here to search 6:05 AM 59 F 局 10/30/2021 12 prt sc 00 5.

Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. Electronics Tannenhill Industry Company Average Sales $1,540,000 100 % Cost of goods sold 1,016,400 72 Gross profit $523,600 28 % Selling expenses $308,000 15 % Administrative expenses 123,200 7 Total operating expenses $431,200 22 % Operating income $92,400 6 % Other revenue 30,800 2 $123,200 8 % Other expense 15,400 1 Income before income tax $107,800 7 % Income tax expense 46,200 4 Net income $61,600 3 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Tannenhill Tannenhill…

Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.6 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 35% Quick ratio: 1.20 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold $ 640,000 448,000 Balance Sheet Assets Cash Accounts payable Liabilities and Equity $ 90,000 Accounts receivable 64,000 Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets $ 400,000 Total liabilities and equity $