Reference no: EM132907503
The following income statements for 20X7 and 20X8 are for Kaylee Inc., a client who owns a chain of restaurants.
20X8 20X7
Revenue $13,378,554 $13,370,994
Cost of goods sold 10,775,151 10,665,152
Gross margin 2,603,403 2,705,842
Selling, general, and administrative expenses 1,550,215 1,415,165
Operating income 1,053,188 1,290,677
Net interest expense 135,165 157,485
Earnings before income taxes 918,023 1,133,192
Income taxes 257,046 317,294
Net income $ 660,977 $ 815,898
Problem 1: Kaylee Frye, the CEO, has recently heard the term "horizontal analysis" with respect to financial statement analysis. Which of the following is the percentage for the horizontal analysis of the cost of goods sold?
a) -3.79%
b) 1.02%
c) 1.03%
d) 80.54%
|
Calculate the net income
: Regent Plumbing Company provides plumbing services. Calculate the net income. Assume plumbing supplies of $400 are left at the end of the accounting period.
|
|
What is the net income in august
: What is the net income in August? Earned $5,000 of revenues on account; collected $5,000 from a customer for services provided last month.
|
|
Civilization from the perspective of aesthetics
: MPU3122 ISLAMIC CIVILIZATION AND ASIAN CIVILIZATION - assess the ability of students to discuss the Malay civilization and contribution to world civilization
|
|
Discuss the impact of the accounting standard on fundamental
: Discuss the impact of the accounting standard on fundamental qualitative characteristics (relevance and faithful representation) of information reporting
|
|
Which is the percentage for the horizontal analysis of cost
: Kaylee Frye, the CEO, has recently heard the term "horizontal analysis". Which is the percentage for the horizontal analysis of the cost of goods sold?
|
|
What is the journal entry of remy company on dec
: What is the journal entry of Remy Company on Dec. 31, 2004? Purchased January 1, 2003, the bonds maturity date is on Jan. 1, 2006.
|
|
What is the total value of lsi using replacement cost method
: Klatle Investments Corp. owns 100% of the shares, What is the total value of LSI using the replacement cost method for the common shareholders at this time?
|
|
What is the estimated price per common share for pham
: Pham Co. is a private company with 1,550,000 common shares outstanding. What is the estimated price per common share for Pham?
|
|
What is the estimated price per common share for pham
: Pham Co. is a private company with 1,550,000 common shares outstanding. What is the estimated price per common share for Pham?
|