Compute amount and percentage changes for income statements

Assignment Help Financial Accounting

Reference no: EM13914010

Accounting Connection- Vision, Inc.'s comparative income statements follow. Compute the amount and percentage changes for the income statements, and comment on the changes from 2013 to 2014. (Round the percentage changes to one decimal place.)

Chapter 14: Financial Statement Analysis

Text Book: Financial and Managerial Accounting By Belverd Needles, Marian Powers, Susan V. Crosson.

Vision, Inc. Comparative Income Statements For the years ended December 31, 2014 and 2013
	2014	2013
Net sales	$360,000	$290,000
Cost of goods sold	224,000	176,000
Gross margin	$136,000	$114,000
Operating expenses	80,000	60,000
Operating income	$ 56,000	$ 54,000
Interest expense	14,000	10,000
Income before income taxes	$ 42,000	$ 44,000
Income taxes expense	14,000	16,000
Net income	$ 28,000	$ 28,000
Earnings per share	$ 2.80	$ 2.80

Reference no: EM13914010

Questions Cloud

Journal entry for the issuance of note by ontario resources : Prepare the journal entry for the issuance of the note by Ontario Resources. Prepare the appropriate adjusting entry for the note by Ontario Resources on December 31, 2013. Show calculations.Prepare the journal entry for the payment of the note at ma..

Find the elapsed time for the journey : If the girl has to run 48 m down the hill from where it first was pushed to get to where her sled stopped, find the elapsed time for the journey.

Estimates of the population standard deviation : Find a point estimate of the population standard deviation. (Consider using the fillhandle here.) How do the 10 point estimates of the population mean compare to the actual population mean

What is difference in personnel involved and selling process : According to our course materials and other sources, how is selling to a business different from selling to a consumer? What is the difference in personnel involved and the selling process? How might the sale of consumer products also be considere..

Compute amount and percentage changes for income statements : Vision, Inc.'s comparative income statements follow. Compute the amount and percentage changes for the income statements, and comment on the changes from 2013 to 2014.

Complete multiple-step income statement for the company : Prepare a complete multiple-step income statement for the company. (Hint: Rely on the amounts and percentages given to infer missing values.) (Round "Earnings per share" to 2 decimal places.)What is the gross profit percentage? (Enter your answer as ..

Unlimited life of company : Unlimited life of company that continues in existence after original owners die or leave the company

What method to determine an appropriate marketing budget : The advertising strategy of the business to business market has differences with the business to consumer market - each is unique. How do you think your strategy or process would change from a B2B market vs. a B2C market? Or, would it be the same?

Deposable spoons to revamp coffee carts : 15 Sold 4 boxes of Deposable Spoons to Revamp Coffee Carts for $560 each, Invoice No. 507-16 Quick Bolt Coffee paid $900 in partial payment of their account.

User Account

All Pages