Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 11 Oct 2017 My Price 9.00

LARRY BUDD CORPORATION

Using vertical analysis, prepare a common-size income statement for Larry Budd, using net sales as the base.

LARRY BUDD CORPORATION

    

Condensed Income Statement

    

For the Year Ended December 2015

  
 

Amount

Percent

Net sales

$780,000

  

Cost of goods sold

471:11,000

  

Gross profit

310,000

  

Operating expenses

'140,000

  

Income from operations

170,000

  

Interest expense

'16,000

  

Income before income taxes

154,000

  

Income tax expense

62,000

  

Net income

$ 92,000

  

Instructions

Compute the following ratios before and after expansion. Assume year-end balance sheet amounts are representative of average balances.

  1. Return on assets.
  2. Return on common stockholders' equity.
  3. Debt to assets.
  4. Times interest earned.

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Oct 2017 10:10 PM My Price 9.00

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