1)Net income was $598,600 in the current year and $373,000 in the prior year The year-to-year percentage change in net income is closest to:
2) The following information is taken from the financial statements of a company for the current year:
Current assets$400,000 Total assets895,000 Cost of good sold655,000 Gross Profit205,000 Net income125,000 2
On a common size income statement for the year, what is the percentage that would be shown next to the dollar amount of sales revenue?
3) A company’s comparative balance sheet show total assets of $990,000 and $900,000, for the current and prior years, respectively The percentage change to be reported in the horizontal analysis is an increase of:
4) What is the gross profit percentage for the current year (rounded to the nearest whole percent)?
5) On a common size income statement for this year, what is the percentage that would be shown next to the dollar amount of cost of goods sold?