Reference no: EM132800434
Questions -
Q1. Metlock, Inc. has the following Income Statement (in millions):
METLOCK, INC. Income Statement For the Year Ended December 31, 2023
Net Sales $200
Cost of Goods Sold $148
Gross Profit $52
Operating Expenses $46
Net Income $6
Using vertical analysis, what percentage is assigned to gross profit?
A. 35.1%
B. 74.0%
C. 26.0%
D. 100%
Q2. Given the following data for the Sheffield Corp.:
Current liabilities $410
Long-term debt $470
Common stock $525
Retained earnings $1095
Total liabilities & stockholders' equity $2500
How would common stock appear on a common size balance sheet?
A. 49%
B. 23%
C. 21%
D. 13%
Q3. Blue Spruce Corp. reported net sales of $651000, $726000, and $781200 in the years 2021, 2022, and 2023, respectively. If 2021 is the base year, what percentage do 2023 sales represent of the base?
A. 83%
B. 120%
C. 108%
D. 20%
Q4. Assume the following sales data for a company:
2023 $970000
2022 $871000
2021 $696800
If 2021 is the base year, what is the percentage increase in sales from 2021 to 2022?
A. 125%
B. 139%
C. 25%
D. 39%
Q5. The following schedule is a display of what type of analysis?
|
|
Amount
|
Percent
|
|
Current assets
|
$100,000
|
25%
|
|
Property, plant, and equipment
|
$300,000
|
75%
|
|
Total assets
|
$400,000
|
100%
|
A. Differential analysis
B. Ratio analysis
C. Vertical analysis
D. Horizontal analysis