Solution-Income statements for sennett company for 2008 and

Income statements for sennett company for 2008 and 2009

Assignment Help Finance Basics

Reference no: EM13574778

Income statements for Sennett Company for 2008 and 2009 follow.

	2009	2008
Sales	$121,000	$92,000
Cost of goods sold	75,000	51,000
Selling expenses	20,000	11,000
Administrative expenses	12,000	14,000
Interest expense	3,000	5,000
Total expenses	110,000	81,000
Income before taxes	11,000	11,000
Income taxes expense	3,000	2,000
Net income	$ 8,000	$ 9,000

Required

a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2008 and 2009.

b. Perform a vertical analysis, showing each income statement component as a percent of sales for each year.

Reference no: EM13574778

Questions Cloud

Assume a speculator anticipates that the spot rate of the : 1. assume a speculator anticipates that the spot rate of the franc in three months will be lower than todays

Discuss use of statistics in your job or an industry that : discuss use of statistics in your job or an industry that you are familiar with. provide an example.if you read an

Assume that a few months earlier the forward 1-year rate of : the following table shows yields to maturity of zero-coupon treasury securities.term to maturity yearsyield to maturity

The general ledger account for accounts receivable shows a : the general ledger account for accounts receivable shows a debit balance of 40000. the allowance for uncollectible

Income statements for sennett company for 2008 and 2009 : income statements for sennett company for 2008 and 2009 follow.20092008sales12100092000cost of goods

On december 31 2012 hampton declared the annual preferred : hampton corporations balance sheet at december 31 2011 is presented below. hampton corporation balance sheet december

On december 1 2011 umd company purchased 15000 of : on december 1 2011 umd company purchased 15000 of equipment by issuing a 120-day 10 note payable to bank of maryland.

Describe when revenue should be recognized by each company : the following are brief descriptions of several companies in different lines of business.a. company a is a

For 2008 orchard corporation reported after-tax net income : for 2008 orchard corporation reported after-tax net income of 5800000. during the year the number of shares of stock

User Account

All Pages

Income statements for sennett company for 2008 and 2009

Reference no: EM13574778

Reference no: EM13574778

Questions Cloud

Reviews

Write a Review

Finance Basics Questions & Answers

Financial reporting and analysis

A report on financial accounting

Describe the types of financial ratios

Differences between sole proprietorship and corporation

Prepare a cash budget statement

What are the implied interest rates

State pricing theory and no-arbitrage pricing theory

Small business administration

Effect of financial leverage

Evaluate the basis for the payment to the lender

Importance of opps, ipps, mpfs and dmepos

Time value of money

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT