Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. comparative data, in thousands, is given below for

Comparative data, in thousands, is given below for the Danika Company for the years' 2020...

70.2K

Verified Solution

Question

Accounting

image
image
image
Comparative data, in thousands, is given below for the Danika Company for the years' 2020 and 2019. Required: 1. Using the table below, complete a Vertical Analysis to determine the changes in net income. Round answers to 1 decimal place. (7 marks) 2. Despite sales having decreased in 2020 compared to 2019, net income is higher in 2020 compared to 2019. Provide two trends that you see that are contributing to this increase in net income. (2 marks) Part 1: 2020 Amount Percentage $4,350 % 2019 Amount Percentage $4,500 % Sales 2,450 % 2,500 % Cost of goods sold Gross profit Operating expenses $1,900 % $2,000 % 1,150 % 1,250 % Income before income tax $750 % $750 % Income tax expense 115 % 125 % $635 Net income % $625 % Part 2

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Exhibit 10.1 Assume that you have been hired as a consultant by CGT, a major producer of...

Advance Math
1.2K views

The following table lists a portion of Major League Baseball’s (MLB’s) leading pitchers, each pitcher’s salary...

Biology
1.2K views

May not pass that vehicle Should go around the vehicle if it seems safe

Geometry
1.2K views

1 James family wants to enclose their circular garden with a fence Given that their...

Basic Math
1.2K views

Submit cosx 7 sinx If the curve passes through the point pi 6 2

Statistics
1.2K views

On a recent exam a group of students had a mean score of 62 and...

Algebra
1.2K views

Use the intermediate value theorem IVT to determine if the polynomial function has a zero...

Accounting
1.2K views

Judy currently earns bi-weekly salary of $1,250.00 and the federal and Alberta TD1 is on...

Accounting
1.2K views

Prepare balance sheet The following is the adjusted trial balance of Sierra Company. Use the...

Accounting
1.2K views

When use Cramer's Rule to solve the system of linear equations x+2y= 4 2x -5y=...

Accounting
1.2K views

Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2021. The provisions of...

Accounting
1.2K views

For each of the following accounta/descriptions, indicate where in the financial statements the item will...