acct301 week 3 problem 1 and problem 2 ratios analysis use it as a guide 495954
| Problem 1 | |||||
| Required:Express each income statement component as a percentage of sales, and comment on the trends in each line from 2012 to 2013. | |||||
| 2013 | % Sales | 2012 | % Sales | Comments | |
| 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 | |||
| Problem 2 | ||||
| Required:Compute (1) accounts receivable turnover for 2013, (2) the inventory turnover for 2013, and (3) the net margin for 2012. | ||||
| Balance sheet items | 2013 2012 | |||
| 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 | ||
| Income statement items | ||||
| 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 | ||
Calculator
Our features
We've got everything to become your favourite writing service
Money back guarantee
Your money is safe. Even if we fail to satisfy your expectations, you can always request a refund and get your money back.
Confidentiality
We don’t share your private information with anyone. What happens on our website stays on our website.
Our service is legit
We provide you with a sample paper on the topic you need, and this kind of academic assistance is perfectly legitimate.
Get a plagiarism-free paper
We check every paper with our plagiarism-detection software, so you get a unique paper written for your particular purposes.
We can help with urgent tasks
Need a paper tomorrow? We can write it even while you’re sleeping. Place an order now and get your paper in 8 hours.
Pay a fair price
Our prices depend on urgency. If you want a cheap essay, place your order in advance. Our prices start from $11 per page.