70.2K

Verified Solution

Link Copied!

can you please provide working notes as well thank you!!!!

Sales Cost of goods sold Accounts receivable 2019 2018 2017 2016 2815 $ 537,203 $ 351, 113 S 273,240 $ 198,720 $144,000 276,524 180,618 142,352 102,847 73,440 26,162 20,540 18,744 11,625 9,821 Compute trend percents for the above accounts, using 2015 as the base year Choose Numerator Analysis period net sales 2019: 5 Trend Percent for Net Sales Choose Denominator: Base year net sales 537 203 S Trend percent 153 % 351,113 2018: 0 % 2017: 11 2016: 0 % 0 % Trend Percent for Cost of Goods Sold 1 Choose Denominator Choose Numerator: 2019: 2018: 2017: 2016: Trend percent 0 % 0 % o 96 0196 Choose Numerator: Trend Percent for Accounts Receivables Choose Denominator: Trend percent 0196 2019: 2018: 2017: 2016 01% ol 96 - 0196 Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Income Reason for Statement Decline in Net Income Express the following comparative Income statements in common-size percents. (Round your percentage answers to 1 decimal place.) GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year 5 9 $ 96 Sales $ 795,000 100.00 5080.000 100.0 Cost of goods sold 500,000 286,000 Gross profit 235,000 303.400 Operating expenses 129,200 230,000 Net income $ 105,800 $ 103.400 In Reason for Decline in Net Income >

Answer & Explanation Solved by verified expert

See Answer