Details:Complete exercises ED-15, ED-16, ED-20, ED-21, and Comprehensive Problem Dfrom the textbook.Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.Save your workbook using the filename LastnameFirstinitial.ACC350.T# where the # represents the topic number. For example, John Doe would submit assignment #5 using the following name: DoeJ.ACC350.T5.You are not required to submit this assignment to Turnitin.
ED-15 Performing horizontal analysisâincome statement
1.
Net Income 42.3%
MARINER
DESIGNS, INC.
Comparative
Income Statement
Years
Ended December 31, 2015 and 2014
2015
2014
Net Sales
Revenue
431,000
372,350
Expenses:
Cost of Goods Sold
200,000
187,550
Selling & Admin Expenses
99,000
91,050
Other Expenses
8,350
6,850
Total Expenses
307,350
285,450
Net
Income
123,650
86,900
Requirements
1.
Prepare a horizontal analysis of the comparative income statement of Mariner
Designs,
Inc. Round percentage changes to one
decimal place.
ED-16 Computing trend analysis 1. 2015 Net Income 136% Magic Oaks Realty’s net revenue and net income for the
following five-year period, using 2012 as the base year, follow: 2016 2015 2014 2013 2,012 Net Revenue 1,310,000 1,187,000 1,110,000 1,011,000 1,045,000 Net Income 122,000 113,000 84,000 72,000 83,000 Requirements 1. Compute trend
analysis for net revenue and net income.
Round to the nearest full percent. 2. Which grew faster
during the period, net revenue or net income? ED-20 Computing key ratios The Financial statements of Victor’s Natural Foods include
the following item: e. 84 days Current
Year Preceding Year Balance sheet: Cash 15,000 20,000 Short-term Investments 11,000 27,000 Net Accounts Receivables 54,000 73,000 Merchandise Inventory 77,000 69,000 Prepaid Expenses 15,000 9,000 Total Current Assets 172,000 198,000 Total Current Liabilities 133,000 93,000 Income Statement: Net Credit Sales 462,000 Cost of Goods Sold 315,000
ED-21 Analyzing the ability to pay
liabilities
d. 2015 0.51
Large Land Photo Shop has asked you
to determine whether the companyâs ability
to pay current liabilities and total
liabilities improved or deteriorated during 2015.
Analyzing a company for its
investment potential
Requirements
1. Analyze the companyâs financial
summary for the fiscal years 2014â2018 to
decide whether to invest in the
common stock of WRS. Include the following
sections in your analysis, and fully
explain your final decision.
1. Trend analysis for net sales and
net income (use 2014 as the base year).
2. Profitability analysis.
3. Evaluation of the ability to sell
merchandise inventory (WRS uses the LIFO
method).
4. Evaluation of the ability to pay
debts.
5. Evaluation of dividends.
