Income statement data for Winthrop Company for two recent years ended December 31 are as follows:...
Income statement data for Winthrop Company for two recent years ended December 31 are as follows:
1 Current Year Previous Year
2 Sales $1,993,600.00 $1,780,000.00
3 Cost of goods sold 1,674,090.00 1,521,900.00
4 Gross profit $319,510.00 $258,100.00
5 Selling expenses $73,450.00 $65,000.00
6 Administrative expenses 48,840.00 44,000.00
7 Total operating expenses $122,290.00 $109,000.00
8 Income before income tax $197,220.00 $149,100.00
9 Income tax expense 13,884.00 8,900.00
10 Net income $183,336.00 $140,200.00
A. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. Round percentages to one decimal place. B. What conclusions can be drawn from the horizontal analysis? Round the answers to one decimal place.
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Income statement data for Winthrop Company for two recent years
ended December 31 are as follows:...
Income statement data for Winthrop Company for two recent years ended December 31 are as follows:...
Income statement data for Winthrop Company for two recent years ended December 31 are as follows: Current Year Previous Year Sales $1,948,800.00 1,689,975.00 $1,740,000.00 1,522,500.00 Cost of goods sold Gross profit $258,825.00 $217,500.00 Selling expenses $71,875.00 $62,500.00 Administrative expenses 51,520.00 46,000.00 Total operating expenses $123,395.00 $108,500.00 Income before income tax $109,000.00 $135,430.00 13,398.00 9 Income tax expense 8,700.00 10 Net income $122,032.00 $100,300.00 A. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year...
Income statement data for Winthrop Company for two recent years ended December 31 are as follows:...
Income statement data for Winthrop Company for two recent years ended December 31 are as follows: 1 Current Year Previous Year 2 Sales $1,948,800.00 $1,740,000.00 3 Cost of goods sold 1,689,975.00 1,522,500.00 4 Gross profit $258,825.00 $217,500.00 5 Selling expenses $71,875.00 $62,500.00 6 Administrative expenses 51,520.00 46,000.00 7 Total operating expenses $123,395.00 $108,500.00 8 Income before income tax $135,430.00 $109,000.00 9 Income tax expense 13,398.00 8,700.00 10 Net income $122,032.00 $100,300.00 A. Prepare a comparative income statement with horizontal analysis,...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows:...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $762,000 $600,000 Cost of goods sold 650,000 520,000 Gross profit $112,000 $80,000 Selling expenses $32,760 $28,000 Administrative expenses 30,000 24,000 Total operating expenses $62,760 $52,000 Income before income tax $49,240 $28,000 Income tax expenses 19,700 11,200 Net income $29,540 $16,800 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared...
OBJ.2 Horizontal analysis of the income statement Income statement data for Winthrop Company for two recent...
OBJ.2 Horizontal analysis of the income statement Income statement data for Winthrop Company for two recent years ended December 31 EX 17-5 Previous Year Current Year are as follows $2,000,000 $2,280,000 nommo1,960,000 $320,000 1,750,000 $ 250,000 $ 125,000 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses $156,500 100,000 122,000 $278,500 $ 225,000 $41,500 s 25,000 Income before income tax 16,600 10,000 Income tax expense $ 24,900 Net income $ 15,000 a. Prepare a comparative...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows:...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $701,800 $580,000 Cost of goods sold 590,000 500,000 Gross profit $111,800 $80,000 Selling expenses $31,080 $28,000 Administrative expenses 27,370 23,000 Total operating expenses $58,450 $51,000 Income before income tax $53,350 $29,000 Income tax expenses 21,300 11,600 Net income $32,050 $17,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared...
reasons Income statement data for Winthrop Company for two recent years ended December Current Year Previous...
reasons Income statement data for Winthrop Company for two recent years ended December Current Year Previous Year Sales $2,240,000 $2,000,000 Cost of goods sold (1.925.000) (1,750,000) Gross profit $315,000 $250.000 Seling expenses ${152,500) ${125.000) Administrative expenses (118,000) (100,000) Total operating expenses [270,500) $225,000) Income before income tax expense 544.500 $25.000 Income tax expense (17,800) (10,000) Net Income 3. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease for the current year when compared with the previous year....
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement
data for Winthrop Company for two recent years ended December 31,
are as follows: Current Year Sales Cost of goods sold Gross profit
$665,600 567,000 Previous Year $520,000 450,000 $98,600 $70,000
Selling expenses$29,500 Administrative expenses 26,460 $25,000
21,000 $ 46,000 Total operating expenses$55,960 Income before
income tax$42,640 $ 24,000 Income tax expenses 17,1009,600 Net
income$ 25,540$ 14,400
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $932,400 $740,000 Cost of goods sold 787,200 640,000 Gross profit $145,200 $100,000 Selling expenses $41,760 $36,000 Administrative expenses 37,200 30,000 Total operating expenses $78,960 $66,000 Income before income tax $66,240 $34,000 Income tax expenses 26,500 13,600 Net income $39,740 $20,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $460,800 375,000 $360,000 300,000 Cost of goods sold Gross profit $85,800 $60,000 Selling expenses $24,780 $21,000 Administrative expenses 22,680 18,000 Total operating expenses $47,460 $39,000 Income before income tax $21,000 $38,340 15,300 Income tax expenses 8,400 Net income $23,040 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
LA 14-5 Horizontal analysis of Income statement data for Winthrop com rizontal analysis of the income...
LA 14-5 Horizontal analysis of Income statement data for Winthrop com rizontal analysis of the income statement follows: Obj. 2 hrop Company for two recent years ended December 31 are as Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income tax expense Income tax expense Net income a. Prepare a comparative income staten (decrease) for the current year when com one decimal place. What conclusions can be drawn from the horizontal analysis? Sales...
Income statement data for Winthrop Company for two recent years ended December 31 are as follows: Current Year Previous Year Sales $1,948,800.00 1,689,975.00 $1,740,000.00 1,522,500.00 Cost of goods sold Gross profit $258,825.00 $217,500.00 Selling expenses $71,875.00 $62,500.00 Administrative expenses 51,520.00 46,000.00 Total operating expenses $123,395.00 $108,500.00 Income before income tax $109,000.00 $135,430.00 13,398.00 9 Income tax expense 8,700.00 10 Net income $122,032.00 $100,300.00 A. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $762,000 $600,000 Cost of goods sold 650,000 520,000 Gross profit $112,000 $80,000 Selling expenses $32,760 $28,000 Administrative expenses 30,000 24,000 Total operating expenses $62,760 $52,000 Income before income tax $49,240 $28,000 Income tax expenses 19,700 11,200 Net income $29,540 $16,800 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared...
OBJ.2 Horizontal analysis of the income statement Income statement data for Winthrop Company for two recent years ended December 31 EX 17-5 Previous Year Current Year are as follows $2,000,000 $2,280,000 nommo1,960,000 $320,000 1,750,000 $ 250,000 $ 125,000 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses $156,500 100,000 122,000 $278,500 $ 225,000 $41,500 s 25,000 Income before income tax 16,600 10,000 Income tax expense $ 24,900 Net income $ 15,000 a. Prepare a comparative...
reasons Income statement data for Winthrop Company for two recent years ended December Current Year Previous Year Sales $2,240,000 $2,000,000 Cost of goods sold (1.925.000) (1,750,000) Gross profit $315,000 $250.000 Seling expenses ${152,500) ${125.000) Administrative expenses (118,000) (100,000) Total operating expenses [270,500) $225,000) Income before income tax expense 544.500 $25.000 Income tax expense (17,800) (10,000) Net Income 3. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease for the current year when compared with the previous year....
Horizontal Analysis of the Income Statement Income statement
data for Winthrop Company for two recent years ended December 31,
are as follows: Current Year Sales Cost of goods sold Gross profit
$665,600 567,000 Previous Year $520,000 450,000 $98,600 $70,000
Selling expenses$29,500 Administrative expenses 26,460 $25,000
21,000 $ 46,000 Total operating expenses$55,960 Income before
income tax$42,640 $ 24,000 Income tax expenses 17,1009,600 Net
income$ 25,540$ 14,400
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $460,800 375,000 $360,000 300,000 Cost of goods sold Gross profit $85,800 $60,000 Selling expenses $24,780 $21,000 Administrative expenses 22,680 18,000 Total operating expenses $47,460 $39,000 Income before income tax $21,000 $38,340 15,300 Income tax expenses 8,400 Net income $23,040 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
LA 14-5 Horizontal analysis of Income statement data for Winthrop com rizontal analysis of the income statement follows: Obj. 2 hrop Company for two recent years ended December 31 are as Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income tax expense Income tax expense Net income a. Prepare a comparative income staten (decrease) for the current year when com one decimal place. What conclusions can be drawn from the horizontal analysis? Sales...
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