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Acc 300 Brief Exercise 13 Essay

318 words - 2 pages

BRIEF EXERCISE 13-4

Horizontal analysis:
| | | | | | Increaseor (Decrease) |
| | | | | | | | |
| | Dec. 31, 2012 | | Dec. 31, 2011 | |  Amount  | | Percentage* |
| | | | | | | | |
Accounts receivableInventoryTotal assets | | $ 460,000$ 780,000$3,164,000 | | $ 400,000$ 650,000$2,800,000 | | $ 60,000$130,000$364,000 | | 15%20%13% |

= .15         = .20         = .13

BRIEF EXERCISE 13-5

Vertical analysis:
| | Dec. 31, 2012 | | Dec. 31, 2011 |
| | | | | | | | |
| |   Amount   | | Percentage* | |   Amount   | | ...view middle of the document...

03)         = .07

BRIEF EXERCISE 13-7

| | 2012 | | 2011 | | Increase |
| | | | | | |
Net income | | $382,800 | | X | | 16% |

.16 =
.16X = $382,800 – X
1.16X = $382,800
X = $330,000

2011 Net Income = $330,000

BRIEF EXERCISE 13-8

| | 2012 | | 2011 | | 2010 |
| | | | | | |
SalesCost of goods soldExpenses Net income | | 100.0 60.5 26.0 13.5 | | 100.0 62.9 26.6 10.5 | | 100.0 64.8 27.5 7.7 |

Net income as a percent of sales for Vallejo increased over the three-year period because cost of goods sold and expenses both decreased as a percent of sales every year.

BRIEF EXERCISE 13-9

Comparing the percentages presented results in the following conclusions: The net income for Spartan increased in 2011 because of the combination of an increase in sales and a decrease in both cost of goods sold and expenses. However, the reverse was true in 2012 as sales decreased, while both cost of goods sold and expenses increased. This resulted in a decrease in net income.

BRIEF EXERCISE 13-10

Current ratio:
2009 2008
= = .33:1 = .22:1

The current ratio increased by 50% indicating that Bob Evans Farms is more liquid in 2009.

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