Use the following data: Nov. 30, 2011 Nov. 30, 2012 Nov. 30, 2013 Sales COGS $3,500,000 $2,100,000 $4,000,000 $4,400,000 $2,400,000 $2,685,000 Inventory $650,000 $700,000 $600,000 Calculate the Gross Profit Ratio for 2012?

Describe how to develop a pro forma income statement .

! Required information Use the following information for the Quick Studies below. (Algo) ($ thousands) Net sales Current Year $ 803,470 394,775 Prior Year $ 455,095 135,878 Cost of goods sold QS 17-7 (Algo) Trend percents LO P1 Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the base year. (Enter the answers in thousands of dollars.) Current Year: Prior Year: Numerator: Trend Percent for Net Sales: 1 1 1 1 Denominator: = = = Trend Percent 0 % 0 %

Question 5 Marks: BigBoss Inc. provides the following extracts from income statement for the year 2009: Net sales $500,000, Cost of Goods Sold (150,000), Gross profit $350,000, Calculate the gross profit percentage.

Calculate the Gross Profit Percentage using the following information: Net Sales Cost of Goods Sold Operating Expenses Income Taxes 60% 32.5% 30% 120% 5,000,000 2,000,000 500,000 875,000

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.

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Operating data for Joshua Corporation are presented as follows: Net Sales Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense Net Income 2022 800,000 520,000 120,000 60,000 30,000 70,000 Instructions Prepare a schedule showing a vertical analysis for 2022 and 2021. Net Sales Cost of Goods Sold Gross Profit Selling Expenses Your Answers: FYI: Format the percent cols to one decimal place. Ex 99.9% 2022 Administrative Expenses Total Operating Expenses Income Before Income Taxes Income Tax Expense Net Income 2021 600,000 408,000 72,000 48,000 24,000 48,000 Amount 800,000 520,000 280,000 120,000 60,000 180,000 100,000 30,000 70,000 Percent 100.0% 2021 Amount Percent 600,000 100.0% 408,000 192,000 72,000 48,000 120,000 72,000 24,000 48,000

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Solvency and Profitability Trend Analysis Addai Company has provided the following comparative information:       20Y8     20Y7     20Y6     20Y5     20Y4 Net income $273,406   $367,976   $631,176   $884,000   $800,000   Interest expense 616,047   572,003   528,165   495,000   440,000   Income tax expense 31,749   53,560   106,720   160,000   200,000   Total assets (ending balance) 4,417,178   4,124,350   3,732,443   3,338,500   2,750,000   Total stockholders’ equity (ending balance) 3,706,557   3,433,152   3,065,176   2,434,000   1,550,000   Average total assets 4,270,764   3,928,396   3,535,472   3,044,250   2,475,000   Average total stockholders' equity 3,569,855   3,249,164   2,749,588   1,992,000   1,150,000   You have been asked to evaluate the historical performance of the company over the last five years. Selected industry ratios have remained relatively steady at the following levels for the last five years:     20Y4–20Y8 Return on total assets 28%…