This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: M & M Manufacturing has provided the following comparative income statements for 2021 and ... (Read 36 times)

ShannenConnor

  • Full Member
  • ***
  • Posts: 155
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by ShannenConnor on Feb 5, 2023

jojo120419

  • Full Member
  • ***
  • Posts: 158
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.
Answer Preview
Only 64% of students answer this correctly


ShannenConnor

  • Member
  • Posts: 155
Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review

raili21

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Comparative sizes of the Earth and the Moon Comparative sizes of the Earth and the Moon
Ratings of Perceived Contradictions in Political Statements Ratings of Perceived Contradictions in Political Statements
Household Income in the United States by Quintiles, 2009 Household Income in the United States by Quintiles, 2009
Intergenerational Income Mobility in the United States Intergenerational Income Mobility in the United States
Relationship Between Income per Capita and Population Growth Relationship Between Income per Capita and Population Growth
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Video: Introduction to Breast Cancer

For a complete list of videos, visit our video library