Answer
| 2018 | 2019 | 2018 | 2019 | Changes in $ | Change in % | |
| Revenues | ||||||
| Net sales | $ 175,222 | $ 178,221 | 100.00% | 100.00% | $ 2,999 | 1.71% |
| Less: COGS | $ 132,245 | $ 140,211 | 75.47% | 78.67% | $ 7,966 | 6.02% |
| Gross Profit | $ 42,977 | $ 38,010 | 24.53% | 21.33% | $ (4,967) | -11.56% |
| Expenses | ||||||
| Operating expenses | ||||||
| Advertising | $ 1,325 | $ 1,522 | 0.76% | 0.85% | $ 197 | 14.87% |
| Office | $ 1,253 | $ 1,324 | 0.72% | 0.74% | $ 71 | 5.67% |
| Utilities | $ 3,255 | $ 3,661 | 1.86% | 2.05% | $ 406 | 12.47% |
| Selling | $ 3,972 | $ 4,312 | 2.27% | 2.42% | $ 340 | 8.56% |
| Total Operating expenses | $ 9,805 | $ 10,819 | 5.60% | 6.07% | $ 1,014 | 10.34% |
| $ - | ||||||
| Operating Income | $ 33,172 | $ 27,191 | 18.93% | 15.26% | $ (5,981) | -18.03% |
| Other incomes(expense) | ||||||
| Other incomes(expense) | $ 895 | $ 952 | 0.51% | 0.53% | $ 57 | 6.37% |
| Total incomes(expense) | $ 895 | $ 952 | 0.51% | 0.53% | $ 57 | 6.37% |
| Income before taxes | $ 34,067 | $ 28,143 | 19.44% | 15.79% | $ (5,924) | -17.39% |
| Provission foe taxes | $ (364) | $ (408) | -0.21% | -0.23% | $ (44) | 12.09% |
| Net income | $ 33,703 | $ 27,735 | 19.23% | 15.56% | $ (5,968) | -17.71% |
Calculations:

Change in $ For the period ending March REVENUES (thousands) 2018 Actual 2019 Actual 2018 2019...
The income statement. ACTUAL FORECAST 2018 2019 $71,879 Cost of Revenue $(51,125) gross profit $20,754 operating expenses Selling, General, and Administrative $(14,248) ...
Prepare a comparative common-size income statement for Clarion, Inc. for 2019 and 2018 data. (Round percentages to one decimal place.) Clarion, Inc. Comparative Income Statement Years Ended December 31, 2019 and 2018 2019 2018 Net Sales $ 6,355 $ 4,920 Cost of Goods Sold 3,370 2,200 Gross Profit 2,985 2,720 Operating Expenses: Selling Expenses 675 580 Administrative Expenses 410 425 Total Operating Expenses 1,085 1,005 Operating Income 1,900 1,715 Other Income and (Expenses): Interest Expense (400) (695) Total Other Income...
ACTUAL FORECAST 2018 2019 Total Revenue $ 71,879 Cost of Revenue $ (51,125) Gross Profit $ 20,754 Operating Expenses: Selling, General, and Administrative $ (14,248) Research and Development $ - Special Income/Other Charges $ (2,194) Total Operating Expenses $ (16,442) Operating Income $ 4,312 Net Interest Income $ (666) Pre-Tax Income $ 3,646 Provision for Income Tax (19.5%) $ (711) Net Income $ 2,935 Tag-It’s CEO has predicted a 10% increase in total revenue next year. Utilizing the percentage of...
. Using the firm's 2019 income statement develop the 2019 common-size income statement and compare it to the Common-size statement analysis A common-size income statement for Creek Enterprises 2018 operations follows 2018statement. Which areas require further analysis and investigation? Complete the common-size income statement for the year ending December 31, 2019 and compare it to the common-size Income statement for the year ending December 2018: (Round to one decimal place.) Creek Enterprises Common-Size Income Statement for the Years Ended December...
Common-size statement analysis A common-size income statement for Creek Enterprises' 2018 operations follows E Using the firm's 2019 income statements, develop the 2019 common-size income statement and compare it to the 2018statement. Which areas require further analysis and investigation? Complete the common-size income statement for the year ending December 31, 2019 and compare it to the common-size income statement for the year ending December 2018: (Round to one decimal place.) 100.0 % 66.0 34.0 % Creek Enterprises Common-Size Income Statement...
A common-size income statement for Creek Enterprises' 2018 operations follows: Creek Enterprises Income Statement for the Year Ended December 31, 2018 Sales revenue ($34,966,000) 100.0 % Less: Cost of goods sold 65.6 Gross profits 34.4 % Less: Operating expenses Selling expense 12.7 % General and administrative expenses 6.3 Lease expense 0.5 Depreciation expense ...
Learning Goals 5 P3–19 Common-size statement analysis A common-size income statement for Creek Enterprises' 2018 operations follows. Using the firm's 2019 income statement presented in Problem 3–169, develop the 2019 common-size income statement and compare it with the 2018 statement. Which areas require further analysis and investigation? Creek Enterprises Common-Size Income Statement for the Year Ended December 31, 2018 Sales revenue ($35,000,000) 100.0% Less: Cost of goods sold 65.9 Gross profits 34.1% Less: Operating expenses Selling expense 12.7% General and...
Baresse Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2019 2018 Sales $11,000 $10,000 Operating costs excluding depreciation 9,360 8,500 Depreciation and amortization 380 360 Earnings before interest and taxes $1,260 $1,140 Less interest 120 100 Pre-tax income $1,140 $1,040 Taxes (40%) $456 $416 Net income available to common shareholders $684 $624 Common dividends $220 $200 Baresse Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2019 2018 Assets Cash $550 $500 Short term investments 110...
IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 Assets Cash $ 77,300 $ 61,000 Accounts receivable, net 90,500 68,000 Inventory 80,800 112,000 Prepaid expenses 6,100 8,800 Total current assets 254,700 249,800 Equipment 141,000 132,000 Accum. depreciation—Equipment (35,500 ) (17,500 ) Total assets $ 360,200 $ 364,300 Liabilities and Equity Accounts payable $ 42,000 $ 55,500 Wages payable 7,700 18,400 Income taxes payable 5,100 7,200 Total current liabilities 54,800 81,100 Notes payable (long term) 33,400 77,000 Total...
Saved mework KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $555,000 $340,000 $278,000 Cost of goods sold 283,500 212, 500 153,900 Gross profit 271, 500 127,500 124,100 Selling expenses 102,900 46,920 50,800 Administrative expenses 50, 668 29,920 22,800 Total expenses 153, 568 76,840 73,600 Income before taxes 117,932 5 0, 660 50,500 Income tax expense 40,800 10,370 15,670 Net income $ 77,132 $ 40,290 $ 34,830 KORBIN COMPANY Comparative Balance...