Reference no: EM131771097
Q1) Net income was $598,600 in the current year and $373,000 in the prior year. The year-to-year percentage change in net income is closest to:
30%.
62%.
38%.
60%.
Q2) The following information is taken from the financial statements of a company for the current year:
Current assets - $400,000
Total assets - 895,000
Cost of good sold - 655,000
Gross Profit - 205,000
Net income - 125,000
Q3) On a common size income statement for the year, what is the percentage that would be shown next to the dollar amount of sales revenue?
Q3) A company's comparative balance sheet show total assets of $990,000 and $900,000, for the current and prior years, respectively. The percentage change to be reported in the horizontal analysis is an increase of:
10%.
9%.
5%.
4%.
Q4) What is the gross profit percentage for the current year (rounded to the nearest whole percent)?
76%
61%
31%
24%
Q5) On a common size income statement for this year, what is the percentage that would be shown next to the dollar amount of cost of goods sold?
31%
24%
76%
19%