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    Argosy University/ Phoniex University/
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    Oct-2001 - Nov-2016

Category > Accounting Posted 29 Jul 2017 My Price 12.00

Jacobs Corporation

Operating data for Jacobs Corporation are presented below.

   

2014

  

2013
Sales revenue

Operating data for Jacobs Corporation are presented below.

   

2014

  

2013
Sales revenue   $842,700   $630,100
Cost of goods sold   528,700   409,300
Selling expenses   124,800   76,300
Administrative expenses   78,500   49,600
Income tax expense   38,000   29,600
Net income   72,700   65,300


Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentages to 1 decimal place, e.g. 12.1%.)

JACOBS CORPORATION
Condensed Income Statement
For the Years Ended December 31
 

2014

  

2013
 

Amount

  

Percent

  

Amount

  

Percent

Sales

$842,700

  

%

  

$630,100

  

%

Cost of goods sold

528,700

  

%

  

409,300

  

%

Gross profit

314,000

  

%

  

220,800

  

%

Selling expenses

124,800

  

%

  

76,300

  

%

Administrative expenses

78,500

  

%

  

49,600

  

%

Total operating expenses

203,300

  

%

  

125,900

  

%

Income before income taxes

110,700

  

%

  

94,900

  

%

Income tax expense

38,000

  

%

  

29,600

  

%

Net income

$ 72,700

  

%

  

$ 65,300

  

%
  $842,700   $630,100
Cost of goods sold   528,700   409,300
Selling expenses   124,800   76,300
Administrative expenses   78,500   49,600
Income tax expense   38,000   29,600
Net income   72,700   65,300


Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentages to 1 decimal place, e.g. 12.1%.)

JACOBS CORPORATION
Condensed Income Statement
For the Years Ended December 31
 

2014

  

2013
 

Amount

  

Percent

  

Amount

  

Percent

Sales

$842,700

  

%

  

$630,100

  

%

Cost of goods sold

528,700

  

%

  

409,300

  

%

Gross profit

314,000

  

%

  

220,800

  

%

Selling expenses

124,800

  

%

  

76,300

  

%

Administrative expenses

78,500

  

%

  

49,600

  

%

Total operating expenses

203,300

  

%

  

125,900

  

%

Income before income taxes

110,700

  

%

  

94,900

  

%

Income tax expense

38,000

  

%

  

29,600

  

%

Net income

$ 72,700

  

%

  

$ 65,300

  

%

 

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 02:07 PM My Price 12.00

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