Chapter 14 HW - Student Name: Ankita Shah Class: Financial...

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Student Name: Ankita Shah Class: Financial Accounting Brief Ex. 14.1 First Year Second Year $$ Change % Change Net Sales $150,000 $187,000 $37,000 24.67% Brief Ex. 14.3 Yankee Doodle, Inc Income Statement Account Description $$$$ Component % Sales………………………………………. $560,000 100.00% Cost of sales………………………………. ($340,000) 60.71% Gross margin………………………………. $220,000 39.29% Operating expenses………………………. . ($150,000) 26.79% Net income………………………………… $70,000 12.50% Brief Ex. 14.4 Harrisonburg Company Decription $$ Amount Current assets………………………………. $450,000 Total assets…………………………………. $1,000,000 Current liabilities……………………………. . $267,000 Total liabilities………………………………. . $600,000 Working Capital = Current assets - Current liabilities = $183,000 Current Ratio = Current assets / Current liabilities =
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Chapter 14 HW - Student Name: Ankita Shah Class: Financial...

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