Financial Accounting
3rd Edition
ISBN: 9780133791129
Author: Jane L. Reimers
Publisher: Pearson Higher Ed
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Chapter 10, Problem 4MCQ
To determine
Compute the percentage increases in sales for the year 2012 and 2011.
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A company’s sales in 2010 were P300,000 and in 2011 were P351,000. Using 2010 as the base year, the sales trend percent for 2011 is: *
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The following information is available to you for the Wooden Company:
2011 2010
Net Income. 53,394 39,510
Net Sales 233,715 182,795
From the information provided, calculate Wooden’s profit margin ratio for each year. Be sure to show your calculations.
2011
2010
Comment on the results, assuming that the industry average for the profit margin ratio is 25% for each of the two years.
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Mivatin
Products Ltd. reported the following on its 2011 comparative income statement:
(In millions)
2011
2010
2009
Net sales
$148.5
$139.0
$149.5
Cost of sales
129.5
108.0
114.0
Perform a horizontal analysis of net sales, cost of sales, and gross margin, both in dollar amounts and in percentages, for 2011 and 2010.
(Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.)
Mivatin Products Ltd.
Income Statement - (Adapted)
For the Year Ended December 31, 2011 and 2010
Increase/(Decrease)
(amounts in millions)
2011
2010
2011
2010
2009
Amt.
%
Amt
%
Net sales
$148.5
$139.0
$149.5
Cost of sales
129.5
108.0
114.0
Gross margin
Chapter 10 Solutions
Financial Accounting
Ch. 10 - Prob. 1YTCh. 10 - Prob. 2YTCh. 10 - Prob. 3YTCh. 10 - Prob. 4YTCh. 10 - Prob. 5YTCh. 10 - Define the items that the Financial Accounting...Ch. 10 - Prob. 2QCh. 10 - Prob. 3QCh. 10 - Prob. 4QCh. 10 - Prob. 5Q
Ch. 10 - Prob. 6QCh. 10 - What is solvency? Which ratios are useful for...Ch. 10 - What is profitability? Which ratios are useful for...Ch. 10 - What are market indicators? Which ratios are...Ch. 10 - Prob. 10QCh. 10 - Prob. 1MCQCh. 10 - Current assets for Kearney Company are 120,000 and...Ch. 10 - Prob. 3MCQCh. 10 - Prob. 4MCQCh. 10 - Prob. 5MCQCh. 10 - Prob. 6MCQCh. 10 - Prob. 7MCQCh. 10 - Prob. 8MCQCh. 10 - Prob. 9MCQCh. 10 - Prob. 10MCQCh. 10 - Prob. 1SEACh. 10 - Prob. 2SEACh. 10 - Prob. 3SEACh. 10 - Prob. 4SEACh. 10 - Prob. 5SEACh. 10 - A five-year comparative analysis of Low Light...Ch. 10 - Prob. 7SEACh. 10 - Prob. 8SEBCh. 10 - Prob. 9SEBCh. 10 - Prob. 10SEBCh. 10 - Perform a vertical analysis on the following...Ch. 10 - Prob. 12SEBCh. 10 - Prob. 13SEBCh. 10 - Use the following information to construct a...Ch. 10 - Prob. 16EACh. 10 - Prob. 17EACh. 10 - Prob. 18EACh. 10 - Prob. 19EACh. 10 - Use the balance sheets from Suzannes Hotels in...Ch. 10 - Prob. 21EACh. 10 - Prob. 22EACh. 10 - Prob. 23EACh. 10 - Use the statements of earnings for Campbell Soup...Ch. 10 - Prob. 25EACh. 10 - Prob. 26EACh. 10 - Prob. 27EACh. 10 - Prob. 28EBCh. 10 - Prob. 29EBCh. 10 - Prob. 30EBCh. 10 - Prob. 31EBCh. 10 - Prob. 32EBCh. 10 - Prob. 33EBCh. 10 - Prob. 34EBCh. 10 - Prob. 35EBCh. 10 - Prob. 36EBCh. 10 - Prob. 37EBCh. 10 - Prob. 38EBCh. 10 - Prob. 39EBCh. 10 - Prob. 40EBCh. 10 - Prob. 41PACh. 10 - Prob. 42PACh. 10 - Prob. 43PACh. 10 - Following are the income statements for Alpha...Ch. 10 - Prob. 45PACh. 10 - Prob. 46PACh. 10 - Prob. 47PACh. 10 - You are interested in investing in Teddy Company,...Ch. 10 - Prob. 49PBCh. 10 - Prob. 50PBCh. 10 - Prob. 51PBCh. 10 - Prob. 52PBCh. 10 - Prob. 53PBCh. 10 - Prob. 54PBCh. 10 - Prob. 55PBCh. 10 - Prob. 56PBCh. 10 - Prob. 1CTPCh. 10 - Prob. 2CTP
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- Ash Company reported sales of $440,000 for Year 1, $490,000 for Year 2, and $540,000 for Year 3. Using Year 1 as the base year, what is the revenue trend percent for Years 2 and 3?arrow_forwardAsh Company reported sales of $550,000 for Year 1, $600,000 for Year 2, and $650,000 for Year 3. Using Year 1 as the base year, what is the revenue trend percent for Years 2 and 3? Multiple Choice 109.1% for Year 2 and 118.2% for Year 3 84.6% for Year 2 and 92,3% for Year 3. 92,0% for Year 2 and 84.6% for Year 3. 6:35 PM 3/28/2022arrow_forwardA company’s sales in the prior year were $300,000 and in the current year were $351,000. Using the prior year as the base year, the sales trend percent for the current year is a. 17%. c. 100%. e. 48%. b. 85%. d. 117%.arrow_forward
- Compute trend percentages for the following items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2014 as the base year. State whether the trends are favorable or unfavorable. (Dollar amounts are stated in thousands.) 2018 2017 2016 2015 2014 Sales $81,400 $74,000 $61,500 $59,000 $50,000 Cost of Goods Sold 58,500 48,000 40,500 37,000 30,000arrow_forwardA consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $220,000. This year, the company reported Cost of Goods Sold in the amount of $157,872. What was the gross profit percentage this year? Numerator Denominator Gross Profit Percentagearrow_forwardIf a company had sales of $2,587,643 in 2008 and sales of $3,213,456 in2013, by what percentage did sales change during this time period? If thecompany had a goal of increasing sales by 25 percent over a 5-year period,did it meet its objectives?arrow_forward
- A company's sales in Seattle were $360,000 in 2012, while their sales in Portland were $245,000 for the same year. Complete the following statements: a. Seattle's sales were Incorrect% larger than Portland's. b. Portland sales were Incorrect% smaller than Seattle's. c. Portland sales were Incorrect% of Seattle's.arrow_forwardO'Keefe Industries Balance Sheet December 31, 2012 Assets Liabilities and Stockholders' Equity Cash $32,720 Accounts payable $120,000 Marketable securities 25,000 Notes payable Accounts receivable Accruals 20,000 Inventories Total current liabilities Long-term debt Stockholders' equity Total current assets Net fixed assets $600,000 Total assets Total liabilities and stockholders' equity $arrow_forwardKrogen Grocer’s 2016 financial statements show net income of $1,680 million, sales of $153,466 million, and average total assets of $46,350 million.How much is Krogen Grocer’s return on sales for the year? Question 22 options: A) 1.09% B) 30.20% C) 3.62% D) 6.42%arrow_forward
- Canadian Foods recorded an operating profit of $2.568 million and $5.229 million for 2008 and 2012 respectively. What was the compounded annual rate of growth of Canadian Foods’ operating profits during the 2008-2012 period?A. 16.30%. B. 18.50%. C. 19.50%. Use excel.arrow_forwardRappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What was its profit margin on sales? Select the correct answer. a. 6.19 % b. 6.21 % c. 6.17 % d. 6.13 % e. 6.15 %arrow_forwardJones Enterprises reported sales revenue totaling $672,000, $668,000, and $708,000 in the years, 2015, 2016, and 2017, respectively.Performing trend analysis, with 2015 serving as the base year, what is the percentage for 2017? Question 15 options: A) 19.08% B) 28.21% C) 105.36% D) 105.99%arrow_forward
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Financial ratio analysis; Author: The Finance Storyteller;https://www.youtube.com/watch?v=MTq7HuvoGck;License: Standard Youtube License