Search Results: 'Income Statement'
Introduction To The Income Statement
In the final section of the income statement, we adjust pretax income for other items such as income taxes and extraordinary items. Accounting rules are very specific on what items should be... More > recorded as extraordinary items instead of in operating or non-operating categories. Net Income is calculated by subtracting income taxes from pretax income and adding or subtracting extraordinary items. So in this example, this company made $397,000 during the prior year on sales of $11.9 million.< Less
Formats of Income Statement and Balance Sheet
Income statement: In the case of of sole proprietary and partnership concerns there are no prescribed forms of the income statement and balance sheet. Their preparation is also desirable but not... More > compulsory.< Less
What is Funds Flow Statement?
Funds flow statement shows the changes in the financial position between two balance sheet dates. It represents the movement of funds and the movement can be inward called as income or receipts. In... More > case of outward movement, it is represented by expenditure or payments.< Less
Financial Accounting Net Income
"a. Assuming a constant profit margin, what will Cranberry Corporation's net income be if sales increase by 10%?
b. What is Cranberry Corporation's addition to retained earnings with a 10%... More > increase in sales? Assume the dividend payout ratio and profit margin remains fixed.
c. Assume Cranberry Corporation is operating at full capacity. What will total assets be if sales increase by 10%? Assume costs, current liabilities, and current assets vary directly with sales and that the dividend payout ratio remains unchanged.
Financial Statement Analysis Columnar Form
"(a) Prepare a vertical analysis of the 2009 income statement data for Douglas Company and Maulder Company in columnar form.
(b) Comment on the relative profitability of the companies by... More > computing the return on assets and the return on common stockholders’ equity ratios for both companies.
Computation of Various Components of Financial Statements
"Compute the following for Les Fleurs during 20X2: (Do not convert the figures to US dollars.)
1. Net sales revenue
2. Cost of goods sold
3. Gross profit
4. Net income
5. Balance sheet,... More > December 31, 20X2
6. Statement of Owner's Equity, December 31, 20X2