152.The following selected amounts were extracted from the financial statements of Flamingo Corporation.
Year 4
Year 3
Year 2
Year 1
Net sales
$175,000
$170,000
$165,000
$150,000
Cost of goods sold
109,000
104,500
100,500
93,000
Gross margin
66,000
65,500
64,500
57,000
Prepare a trend analysis for net sales, cost of goods sold, and gross margin. (Round answers to the nearest tenth of 1 percent.) Use Year 1 as the base year.
Year 4
Year 3
Year 2
Year 1
(In percentages)
Net sales
Cost of goods sold
Gross margin
153.The following selected amounts were extracted from the financial statements of Ventura Corporation.
Year 4
Year 3
Year 2
Year 1
Net sales
$171,000
$160,000
$154,000
$144,000
Cost of goods sold
103,000
100,000
97,000
88,000
Gross margin
69,000
59,000
66,000
62,000
Prepare a trend analysis for net sales, cost of goods sold, and gross margin. (Round answers to the nearest tenth of 1 percent.) Use Year 1 as the base year.
Year 4
Year 3
Year 2
Year 1
(In percentages)
Net sales
Cost of goods sold
Gross margin
154.The following selected amounts were extracted from the financial statements of H225 Corporation.
Year 4
Year 3
Year 2
Year 1
Net sales
$350,000
$340,000
$330,000
$300,000
Cost of goods sold
218,000
209,000
201,000
186,000
Gross margin
132,000
131,000
129,000
114,000
Compute the following for net sales, cost of goods sold, and gross margin. (Round answers to the nearest tenth of 1 percent.)
a. The percentage change from Year 1 to Year 2
b. The percentage change from Year 2 to Year 3
c. The percentage change from Year 3 to Year 4
155. Using the income statement below, develop a common-size statement by filling in the blanks provided. Show your work. Round to one decimal place.
20×7
20×7
Net sales
$200,000
_________
Cost of goods sold
116,000
_________
Gross margin
$ 84,000
_________
Operating expenses
46,000
_________
Income before income taxes
$ 38,000
_________
Income taxes expense
15,200
_________
Net income
$ 22,800
_________
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