Income Statement For the Years 2016 through 2014 Balance Sheet Income Statement
ID: 2405516 • Letter: I
Question
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 4,300 4,300 Rent 1,400 1,000 600 Utilities 560 670 780 Income before taxes 3,451 393 (507) Income taxes 1,345 421 26 Net income $ 2,106 $ (28) $ (533) East Valley Computer Company Vertical Analysis of Income StatementsFor 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 2014Explanation / Answer
vertical analasyis of income statement of East Valley Computer Company
vertical analasyis of balance sheet of East Valley Computer Company