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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454 Exercise 103
prepare the following statements on separate sheets of paper.
a. From the following third-quarter 2015 information for Woof Meow Pet Supply, construct. An income statement with vertical analysis: gross sales, $224,400; sales returns and allowances, $14,300; beginning inventory, July 1, $165,000; ending inventory, September 30, $143,320; net purchases, $76,500; total operating expenses, $68,600; and income tax, $8,790.
Woof Meow Pet Supply
Income Statement
Third Quarter, 2015
b. The following financial information is for the fourth quarter of 2015 for Woof Meow Pet Supply. Prepare a comparative income statement with horizontal analysis for the third and fourth quarters: gross sales, $218,200; sales returns and allowances, $9,500; beginning inventory, October 1, $143,320; ending inventory, December 31, $125,300; net purchases, $81,200; total operating expenses, $77,300; and income tax, $11,340.
Woof Meow Pet Supply Comparative
Income Statement
Third and Fourth Quarters, 2015
a. From the following third-quarter 2015 information for Woof Meow Pet Supply, construct. An income statement with vertical analysis: gross sales, $224,400; sales returns and allowances, $14,300; beginning inventory, July 1, $165,000; ending inventory, September 30, $143,320; net purchases, $76,500; total operating expenses, $68,600; and income tax, $8,790.
Woof Meow Pet Supply
Income Statement
Third Quarter, 2015
b. The following financial information is for the fourth quarter of 2015 for Woof Meow Pet Supply. Prepare a comparative income statement with horizontal analysis for the third and fourth quarters: gross sales, $218,200; sales returns and allowances, $9,500; beginning inventory, October 1, $143,320; ending inventory, December 31, $125,300; net purchases, $81,200; total operating expenses, $77,300; and income tax, $11,340.
Woof Meow Pet Supply Comparative
Income Statement
Third and Fourth Quarters, 2015
Explanation
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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
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