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Express each income statement component

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Reference no: EM13798006

Question 1:

Express each income statement component as a percentage of sales, and comment on the trends in each line from 2013 to 2014.


 2014 % Sales 2013 % Sales
Sales  $        1,000,000
 $  1,200,000
Cost of goods sold  $            450,000
 $     600,000
Gross margin  $            550,000
 $     600,000
Operating expenses  $            600,000
 $     450,000
Net income  $            (50,000)
 $     150,000

Question 2:

Compute (1) accounts receivable turnover for 2014, (2) the inventory turnover for 2014, and (3) the net margin for 2014.


 2014 2013



Accounts receivable  $      380,000.00  $      376,000.00
Allowance for doubtful accounts  $      (20,000.00)  $      (16,000.00)
Net accounts receivable  $      360,000.00  $      360,000.00



Inventory  $      480,000.00  $      440,000.00






Sales  $  3,400,000.00  $  3,080,000.00



Cost of goods sold  $  1,600,000.00  $  1,440,000.00



Operating expenses  $      780,000.00  $      680,000.00

Reference no: EM13798006

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