Income Statement For the Years 2016 through 2014 Balance She

Income Statement

For the Years 2016 through 2014

Balance Sheet

Income Statement

BA233 - Accounting for Managers

M4 Step 6 - Learning Activity

Prepare a vertical analysis of East Valley Computer Company\'s income statements

and balance sheets for 2016 through 2014. Prepare the vertical analysis in the

area below each set of statements.

East Valley Computer Company

Income Statements

For the Years 2016 through 2014

2016

2015

2014

Sales

$ 24,977

$ 21,348

$ 19,199

Cost of goods sold

15,266

14,985

14,026

Gross profit

9,711

6,363

5,173

Operating expenses

Wages

4,300

Rent

1,400

1,000

600

Utilities

560

670

780

Income before taxes

3,451

393

(507)

Income taxes

1,345

421

Net income

$ 2,106

$ (28)

$ (533)

East Valley Computer Company

Vertical Analysis of Income Statements

For the Years 2016 through 2014

Balance Sheet

BA233 - Accounting for Managers
M4 Step 6 - Learning Activity

East Valley Computer Company
Balance Sheets
As of December 31 for the Years 2016 through 2014

		2016		2015		2014
Assets
Current assets
Cash		$ 498		$ 1,396		$ 2,934
Accounts receivable	2,677		1,844		946
Merchandise inventory	5,649		4,087		3,492
Total current assets	8,824		7,327		7,372
Plant & equipment
Van		7,355		6,843		6,988
Total assets	$ 16,179		$ 14,170		$ 14,360
Liabilities
Current liabilities
Accounts payable	$ 2,983		$ 1,947		$ 831
Long-term liabilities
Notes payable	6,988		7,121		7,399
Total liabilities	9,971		9,068		8,230
Stockholders\' equity
Common stock	3,500		3,500		3,500
Retained earnings	2,708		1,602		2,630
Total stockholders\' equity	6,208		5,102		6,130
Total liabilities and stockholders\' equity	$ 16,179		$ 14,170		$ 14,360


East Valley Computer Company
Vertical Analysis of Balance Sheets
As of December 31 for the Years 2016 through 2014

vertical analasyis of income statement of East Valley Computer Company

vertical analasyis of balance sheet of East Valley Computer Company

	2016$	%net sales	2015$	%net sales	2014$	%net sales
Sales	24977	100%	21348	100%	19199	100%
Cost of goods sold	15266	61.12%	14985	70.19%	14026	73.06%
gross profit	9711	38.88%	6363	29.81%	5173	26.94%
operating exp
wages	4300	17.22%	4300	20.14%	4300	22.4%
rent	1400	5.61%	1000	4.68%	600	3.13%
utilities	560	2.24%	670	3.14%	780	4.06%
income before tax	3451	13.82%	393	1.84%	(507)	(2.64%)
income taxes	1345	5.38%	421	1.97%	26	0.14%
net income	2106	8.43%	(28)	(0.13%)	(533)	(2.78%)

Income Statement For the Years 2016 through 2014 Balance Sheet Income Statement BA233 - Accounting for Managers M4 Step 6 - Learning Activity Prepare a vertical

Income Statement For the Years 2016 through 2014 Balance She

Solution

Get Help Now

Submit a Take Down Notice