ACCT 212 Week 8 Homework
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$20.00
| Institution | ACCT 212 Financial Accounting |
| Contributor | Jessica Brown |
- Question: Required information
[The following information applies to the questions displayed below.]
The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below.
Required:
Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.)
- Question: Required information
[The following information applies to the questions displayed below.]
The balance sheets for Federer Sports Apparel for 2022 and 2021 are presented below.
Prepare a horizontal analysis for 2022 using 2021 as the base year. (Note: If the percentage increase or
decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)
- Question: The 2021 income statement of Adrian Express reports sales of $18,957,000, cost of goods sold of $11,971,500, and net income of $1,690,000. Balance sheet information is provided in the following table.
Required:
- Calculate the four risk ratios listed above for Adrian Express in 2021. (Use 365 days in a year. Round your answers to 1 decimal place.)
- Do you think the company is more risky or less risky than the industry average?
4. Question: The 2021 income statement of Adrian Express reports sales of $19,710,000, cost of goods sold of $12,350,000, and net income of $1,780,000. Balance sheet information is provided in the following table.
Required:
- Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.)
- Do you think the company is more profitable or less profitable than the industry average?
5. Question: The following condensed information is reported by Sporting Collectibles.
Required:
- Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)
- Determine the amount of dividends paid to shareholders in 2021.
6. Question: The following income statement and balance sheets for Virtual Gaming Systems are provided.
Required:
Assuming that all sales were on account, calculate the following risk ratios for 2021. (Use 365 days a year. Round your final answers to 1 decimal place.)
| Instituition / Term | |
| Term | Summer 2021 |
| Institution | ACCT 212 Financial Accounting |
| Contributor | Jessica Brown |
