None Don Williams received a memo requesting that he complete a trend analysis of the following numbers using 2021 as the base year.2024SalesGross profitNet income$ 390,600208,00043,2002023$ 465,0002022$489,800286,00056,000416,00024,0002021$ 620,000520,00032,000Could you help Don with the request?SalesGross profitNet income2024202320222021%%%100 %%%%100%%%%100 %

Trend analysis of income statement is a type of income statement that shows amounts of current year…

Answered: Don Williams received a memo requesting…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Don Williams received a memo requesting that he complete a trend analysis of the following numbers using 2018 as the base year. 2019 $420,000 340,000 40,000 Sales Gross profit Net income 2021 $340,000 180,000 70,000 Sales Gross profit Net income Could you help Don with the request? (Round your answers to the nearest whole percent.) 2021 2020 $400,000 240,000 90,000 % % % 2020 % % % 2019 2018 $500,000 400,000 50,000 % % % 2018 Check my work 100 % 100 % 100 %
May I ask for an explanation and solution to the question for a better understanding. Thank you! 17. The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000, Cost of Sales: 776,000, Gross Profit: 474,000. The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The increase (decrease) in net sales due to price factor is: a. (P113,000) b. P113,000 c. (P199,500) d. P199,500
May I ask for an explanation and solution to the question for a better understanding. Thank you! 18. The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000, Cost of Sales: 776,000, Gross Profit: 474,000. The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The increase (decrease) in net sales due to cost factor is: a. (P135,800) b. P135,800 c. (P58,200) d. P58,200
May I ask for an explanation and solution to the question for a better understanding. Thank you! 15. The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000, Cost of Sales: 776,000, Gross Profit: 474,000. The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The percent change in volume is: a. 17.50% b. 14.00% c. 25.00% d. 20.00%
he following data represents the annual sales of a Digitech Automation products SAOG. Year 2014 2015 2016 2017 2018 Sales (in Millions) OMR 380 440 520 396 514 Use method of least squares to calculate the trend values and the forecast for the future period. Which of the following is the annual sales forecast for the year 2019 using least squares method? a. 539.6 Million OMR b. 584.4 Million OMR c. 606.8 Million OMR d. 562 Million OMR
Compute trend percent for the following accounts using 2018 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percent appears to be favorable or unfavorable. 2022 2021 2020 2019 2018 Sales $282,880 $270,800 $252,600 $234,560 $150,000 Cost of goods sold 128,200 122,080 115,280 106,440 67,000 Accounts receivable 18,100 17,300 16,400 15,200 9,000
Analyze the Gross profit ratio and give you a report on the same in 2020 and|2019? Gross profit Gross profit ratio= x100 Net sales In 2019= (25,361,421 /63,161,098) x100 =0.401 x100 =40.153% In 2020= (26,796,019/ 63,441,144) x100 =0.422 x100 =42.237%
Suppose a firm has had the following historic sales figures. What would be the forecast for next year's sales using the average approach? You must use the built-in Excel function to answer this question. Input area: Year Sales 2016 2017 2018 es es e $ 1,500,000 $ 1,750,000 $ 1,400,000 2019 $ 2,000,000 2020 $ 1,600,000 Output area: Next year's sales
Complete a trend analysis for sales, using 2019 as the base year. (Round your answers to the nearest whole percent.) 2022 2021 2020 2019 Sales $ 140,000 $ 350,000 $ 210,000 $ 190,000 2022 2021 2020 2019 Sales % % % %
Assume this is a partial list of financial highlights from a Best Buy annual report: 2019 2020 (dollars in millions). $ 37,580 $ 33,075 1,283 891 2,231 1,318. Net sales Earnings before taxes Net earnings Complete a horizontal and vertical analysis from the above information. (Enter your answers in millions. Round the "percent" answers to the nearest hundredth percent.) Net sales Earnings before taxes Net earnings 2020 Horizontal analysis 2019 Increase Percent Vertical analysis 2020 % % % 2019 + % % %
A company’s data of year wise profit is provided; you have to find out how much profit the company should earn in year 2022 to get total profit of 25000? Use goal seek to solve this problem. Show all formulas used in Excel Take the screen shot of the goal seek window when display result. Year Profit 2019 5000 2000 6000 2021 7000 2022 Total Profit 18000
Calculate the horizontal (trend) analysis, and horizontal % change for 2020, 2019, 2018 in excel. Please use excel and display the formula's used. Thank you! Toyota Motor Corporation Income Statement 2018-2020 2020 2019 2018 Sales 29929992 30225681 29379510 Cost of Goods Sold 24522364 24781785 23889153 Gross Profit 5407628 5443896 5490357 Selling, general and administrative 2964759 2976351 3090495 Operating Income 2442869 2467545 2399862 Other income (expense) Interest and dividend income 232870 225495 179541 Interest expense -32217 -28078 -27586 Foreign exchange gain, net -79020 12400 22664 Unrealized gains (losses) -24600 -341054 0 Other income (loss), net 14705 -50843 45948 Total other income (expense) 111738 -182080 220567 Income before income taxes and equity 2554607 2285465 2620429 Provision for…

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