Solution-Prepare an income statement in comparative form

Prepare an income statement in comparative form

Reference no: EM13530903

Income statement data for Starr Canning Corporation are as follows:

	2009	2008
Sales	$1,400,000	$1,200,000
Cost of goods sold	850,000	730,000
Selling expenses	205,000	240,000
General expenses	140,000	100,000
Income tax expense	82,000	50,000

Required

a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales (vertical common-size analysis).

b. Comment on the findings in (a).

Reference no: EM13530903

Questions Cloud

Define the percent yield of calcium sulfate of aluminum : What is the percent yield of calcium sulfate when .8750 L of aluminum sulfate and 17.2 g of calcium phosphate has an actual yield of 1.04

Evaluate the recoil speed of the rifle : A rifle with a weight of 30 N fires a 3.0 g bullet with a speed of 210 m/s. Find the recoil speed of the rifle

Sample of tap water consists of water and fluoride ions : sample of tap water consists of water, fluoride ions, calcium ions, and several other dissolved ions. The ions are evenly distributed throughout the water. Which term or terms could be used to describe this sample of tap water

Find the radius of the sphere in centimeters : The diameter of a sphere is measured to be 6.94 in. Find the radius of the sphere in centimeters

Prepare an income statement in comparative form : Prepare an income statement in comparative form, stating each item for both years as a percent of sales (vertical common-size analysis) and comment on the findings in (a).

Compute interest on loans : Neka also instructed the programmer to use a 360-day year to compute interest on loans (receivables). Discuss whether Neka is behaving in a professional manner.

Find is the image magnified or reduced : An object is placed 13 cm in front of a converging lens with a focal length of 1 cm. Carefully draw a ray diagram on a piece of graph paper , Is the image magnified or reduced

Define what is the molarity : If 21.00 mL of 0.0950 N NaOH solution is used to titrate 28.75 mL of H2SO3 to the first equivilance point, what is the molarity

Calculate the velocity vector of the object : An object is fired at 30.0 m/s at an angle of 35.0 degrees from a vertical cliff that is h meters (where h is unknown quantity) above the sea. calculate the velocity vector of the object

User Account

All Pages

Prepare an income statement in comparative form

Reference no: EM13530903

Reference no: EM13530903

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT