Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:   Current Year Previous Year Sales $ 2,720,000 $2,050,000 Cost of goods sold 1,675,520 1,111,100 Selling expenses 320,960 319,800 Administrative expenses 424,320 262,400 Income tax expense 152,320 118,900   A. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round your percentages answers to one decimal place. Enter all amounts as positive numbers. B. Comment on the significant changes disclosed by the comparative income statement.

A company reports the following amounts at the end of the year: Sales revenue Cost of goods sold Net income $ 310,000 210,000 53,000 Compute the company's gross profit ratio. (Round your final answe Gross profit ratio %

Revenue and expense data for Young Technologies Inc. are as follows:   Year 2 Year 1 Sales $500,000   $440,000   Cost of merchandise sold 325,000   242,000   Selling expenses 70,000   79,200   Administrative expenses 75,000   70,400   Income tax expense 10,500   16,400     Required: Question Content Area a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent. Young Technologies Inc.Comparative Income StatementFor the Years Ended December 31, Year 2 and Year 1   Year 2 Amount Year 2 Percent Year 1 Amount Year 1 Percent   $- Select - - Select -% $- Select - - Select -%   - Select - - Select - - Select - - Select -   $- Select - - Select -% $- Select - - Select -%   $- Select - - Select -% $- Select - - Select -%   - Select - - Select - - Select - - Select - Total expenses $fill in the blank 86d00500602205c_26 fill in the…

Assume the following sales data for a company:   Current year $778,795   Preceding year 600,257 What is the percentage increase in sales from the preceding year to the current year?

A 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 Percentage

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. Yes

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

Following is an incomplete current-year income statement. Determine Net Sales, Cost of goods sold and Net Income. Additional information follows: Return on total assets is 16% (average total assets is $62,500). Inventory turnover is 5 (average inventory is $7,800). Accounts receivable turnover is 8 (average accounts receivable is $7,700). Income Statement Net Sales   Cost of goods sold   Selling, general, and administrative expenses 8800 Income tax expenses 3800 Net Income

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.

How do I make a tabular format, to provide the revenues, gross profit, income from operations, net income, and earnings per share for the most recent three fiscal years. For the two most recent fiscal years, compute and indicate the annual percentage growth (or decline) in each of these numbers?