accounting II chapter 14 Quiz.docx

Less operating expenses 15830 operating income 4630

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Less: Operating expenses 15,830   % Operating income 4,630   % Less: Interest expense 620   % Income before income taxes 4,010   % Less: income tax expense 1,203   % Net income $3,320   % $65,000   % 45,500   % 19,500   % 16,200   % 3,300   % 920   % 2,380   % 714   % $2,350   %
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The vertical analysis in 2015 shows that Setter's gross profit is    % of sales and operating expenses  use up   % of the company's sales. Interest expense and income taxes, combined, use up  another    % of sales revenue. As a resu net income is approximately   % of sales revenue. Choose from any list or enter any number in the input fields and then continue to the next question. Which of the following provides a year-to-year comparison of a company's performance in two different years? A. Vertical analysis B. Time study analysis C. Ratio analysis D. Horizontal analysis Click to select your answer. When performing vertical analysis, each line item on the income statement is computed as a percentage of which of the following? A. Cost of goods sold B. Sales revenue C. Net income D. Operating expenses When performing vertical analysis, each line item on the balance sheet is computed as a percentage of which of the following? A. Total cash flows B. Total stockholder's equity
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C. Total assets D. Total liabilities Working capital is defined as A. current liabilities plus current assets. B. current assets minus current liabilities. C. current liabilities munus current assets. D. cash minus current liabilities. Cartwright's,  a home-improvement store chain, reported these summarized figures: LOADING... (Click  the icon to view the income statement.) LOADING... (Click  the icon to view the balance sheets.) Read the  requirements   LOADING... . a.  Calculate  the gross profit percentage for  20172017. First identify the formula, then calculate the gross profit percentage. (Round your answer to one decimal  place.)     /   = Gross profit percentage     /   =   % b.  Calculate  the operating income percentage for  20172017.
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First identify the formula, then calculate the operating income percentage. (Round your answer to one  decimal place.)     /   = Operating income percentage     /   =   % c.  Calculate  the rate of return on net sales for  20172017.
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  • Spring '15
  • SMITH
  • Balance Sheet, Generally Accepted Accounting Principles, Cartwright'sCartwright, Setter Corporation

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