Reference no: EM132790305
Questions -
Q1. Metlock, Inc. has the following Income Statement (in millions):METLOCK, INC.Income Statement
For the Year Ended December 31, 2023
Net Sales $200
Cost of Goods Sold $148
Gross Profit $52
Operating Expenses $46
Net Income $6
Using vertical analysis, what percentage is assigned to gross profit?
A. 35.1%
B. 74.0%
C. 26.0%
D. 100%
Q2. Given the following data for the Sheffield Corp.:
Current liabilities $410
Long-term debt $470
Common stock $525
Retained earnings $1095
Total liabilities & stockholders' equity $2500
How would common stock appear on a common size balance sheet?
A. 49%
B. 23%
C. 21%
D. 13%
Q3. Blue Spruce Corp. reported net sales of $651000, $726000, and $781200 in the years 2021, 2022, and 2023, respectively. If 2021 is the base year, what percentage do 2023 sales represent of the base?
A. 83%
B. 120%
C. 108%
D. 20%
Q4. Assume the following sales data for a company:
2023 - $970000
2022 - $871000
2021 - $696800
If 2021 is the base year, what is the percentage increase in sales from 2021 to 2022?
A. 125%
B. 139%
C. 25%
D. 39%
Q5. The following schedule is a display of what type of analysis?
|
|
Amount
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Percent
|
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Current assets
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$100,000
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25%
|
|
Property, plant, and equipment
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$300,000
|
75%
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|
Total assets
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$400,000
|
100%
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A. Differential analysis
B. Ratio analysis
C. Vertical analysis
D. Horizontal analysis
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: Given the following data for the Sheffield Corp.: Current liabilities $410. How would common stock appear on a common size balance sheet
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