(Solved) Presented below are the comparative income statements for Mayling, Inc. for the years 2003 through ...

Presented below are the comparative income statements for Mayling, Inc. for the years 2003 through 2005.

   MAYLING, INC.
   Income Statements
   For the Year Ended
     2005      2004      2003
Net sales   $5,185,000   $5,066,000   $5,212,000
Cost and expenses
   Cost of sales   2,846,000   2,846,000   2,904,000
   Selling, general & administrative     1,785,000     1,730,000     1,740,000
   Total Expenses     4,631,000     4,576,000     4,644,000
Income before income taxes   554,000   490,000   568,000
Income taxes     125,000     111,000     127,000
Net income     $429,000     $379,000     $441,000

Net income per common share     $0.86     $.76     $0.88

REQUIRED:
a.)   Compute the common-size income statement in the space provided.

   MAYLING, INC.
   Income Statements
   For the Year Ended
     2005      2004      2003
Net sales
Cost and expenses
   Cost of sales
   Selling, general & administrative   ________   ________   ________
   Total Expenses   ________   ________   ________
Income before income taxes
Income taxes   ________   ________   ________
Net income

Net income per common share

b.)   Answer the following questions:
1.)   Has the net income percentage increased or decreased over time?
2.)   What components of net income contributed to its increase or decrease?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.

Presented below are the comparative income statements for Mayling, Inc. for the years 2003 through ...

Survey of Accounting: Making Sense of Business

Related Topics