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Author Question: M & M Manufacturing has provided the following comparative income statements for 2021 and ... (Read 9 times)

ShannenConnor

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on: Feb 5, 2023

Question 1

M&M Manufacturing has provided the following comparative income statements:

​​202020212022
Net sales$120,000$132,000$136,000
Cost of goods sold   62,000   68,000   72,000
Gross margin58,00064,00064,000
Selling and administrative expenses24,00026,00036,000
Depreciation     4,000     6,000     8,000
Operating profit30,00032,00020,000
Income taxes   10,000     8,000     5,000
Net income$  20,000$  24,000$  15,000

Required:

Prepare a horizontal analysis of M&M's 2022 income statement.

Question 2

M & M Manufacturing has provided the following comparative income statements for 2021 and 2022.


​​20212022
Net sales$132,000$136,000
Cost of goods sold   68,000   72,000
Gross margin64,00064,000
Selling and administrative expenses26,00036,000
Depreciation     6,000     8,000
Operating profit32,00020,000
Income taxes     8,000     5,000
Net income$  24,000$  15,000

Required:

Prepare a common-size analysis of M & M's income statement for 2022.
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by ShannenConnor on Feb 5, 2023

jojo120419

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Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ShannenConnor

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Reply 2 on: Feb 5, 2023
Thanks for the timely response, appreciate it

Zebsrer

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Reply 3 on: Yesterday
Gracias!

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