ACC 221 Chapter Notes -Financial Statement, Retained Earnings
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Hana Corporation reported the following on its comparativeincome statement:
(in millions) | 2014 | 2013 | 2012 |
Revenue................................... | $13,413 | $13,150 | $12,500 |
Cost of sales............................ | $3,060 | $3,000 | $2,500 |
Perform a horizontal analysis of revenues and gross profit longdash—both in dollar amounts and in percentages long dash—for 2014and 2013. (Round your answers to two decimal places. Use a minussign or parentheses to represent a decrease in amount orpercentage.)
Variline Corporation | |||||||||
Comparative Income Statement | |||||||||
For The Years Ended December 31, 2014 and 2013 | |||||||||
Increase/(Decrease) | |||||||||
(amounts in millions) | 2014 | 2013 | |||||||
2014 | 2013 | 2012 | Change | Percentage | Change | Percentage | |||
Revenue | $13,413 | $13,150 | $12,500 | % | % | ||||
Cost of Sales | 3,060 | 3,000 | 2,500 | ||||||
Gross Profit | % | % |
[The following information applies to the questionsdisplayed below.]
The balance sheet for FedererSports Apparel for 2013 and 2012 is presented below. |
FEDERER SPORTS APPAREL Balance Sheet December 31 | ||||
2013 | 2012 | |||
Assets | ||||
Cash | $ | 2,189,730 | $ | 1,156,680 |
Accountsreceivable | 1,382,170 | 1,500,930 | ||
Inventory | 2,795,400 | 1,845,180 | ||
Buildings | 11,383,490 | 10,093,410 | ||
Less: Accumulateddepreciation | (2,220,790) | (826,200) | ||
Total assets | $ | 15,530,000 | $ | 13,770,000 |
Liabilitiesand Stockholders' Equity | ||||
Accountspayable | $ | 1,320,050 | $ | 1,762,560 |
Contingentliability | 1,397,700 | 0 | ||
Common stock | 9,022,930 | 7,008,930 | ||
Retainedearnings | 3,789,320 | 4,998,510 | ||
Total liabilities andstockholders' equity | $ | 15,530,000 | $ | 13,770,000 |
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5.
value:
10.00 points
Required: | |
1. | Prepare a vertical analysis of thebalance sheet data for 2013 and 2012. Express each amount as apercentage of total assets. (Negative answers should beindicated by a minus sign. Leave no cells blank - be certain toenter "0" wherever required. Round your answers to 1 decimal place.Omit the "%" sign in your response.) |
FEDERER SPORTS APPAREL Balance Sheet December 31 | ||
2013 | 2012 | |
% | % | |
Assets | ||
Cash | ||
Accountsreceivable | ||
Inventory | ||
Buildings | ||
Less: Accumulateddepreciation | ||
Total assets | ||
Liabilitiesand Stockholders' Equity | ||
Accountspayable | ||
Contingentliability | ||
Common stock | ||
Retainedearnings | ||
Total liabilities andstockholders' equity | ||
check my workView Hint #1references
6.
value:
10.00 points
2. | Prepare a horizontal analysis for2013 using 2012 as the base year. (Enter the increase inAccumulated Depreciation as a negative amount since total assetsare decreased and the percentage change in Accumulated Depreciationas a positive amount since the balance in the account increased.Negative answers should be indicated by a minus sign. Leave nocells blank - be certain to enter "0" wherever required, includinginfinite values. Round your answers to 1 decimal place. Omit the"%" and "$" signs in your response.) |
FEDERER SPORTS APPAREL Balance Sheet December 31 | ||
Increase (Decrease) | ||
Amount | % | |
Assets | ||
Cash | $ | |
Accountsreceivable | ||
Inventory | ||
Buildings | ||
Less: Accumulateddepreciation | ||
Total assets | $ | |
Liabilitiesand Stockholders' Equity | ||
Accountspayable | $ | |
Contingentliability | ||
Common stock | ||
Retainedearnings | ||
Total liabilities and stockholders'equity | $ | |
Using the information below, discuss both the positive andnegative trends presented in the company
Suncor Energy Inc.
Income Statement Horizontal Analysis
For the years ending December X, 2012
And December X, 2013 ($ millions)
2013 | 2012 | Amount | Variance % Change 2013 from 2012 | |
Revenues and Other Income | ||||
Operating revenues, net of royalties | 39,593 | 38,107 | ||
Other Income | 704 | 419 | ||
40,297 | 38,526 | 1,771 | 4.60 | |
Expenses | ||||
Purchases of crude oil and products | 17,293 | 17,047 | ||
Operating, selling and general | 9,447 | 8,897 | ||
Transportation | 845 | 685 | ||
Depreciation, depletion, amortization and impairment | 4,892 | 6,446 | ||
Exploration | 332 | 309 | ||
Gain on disposal of assets | (137) | (44) | ||
Project start-up costs | 15 | 60 | ||
Voyageur upgrader project charges | 82 | - | ||
Financing expenses | 1,162 | 142 | ||
33,921 | 33,542 | |||
Earnings before Income Taxes | 6,376 | 4,984 | 1,392 | 27,93 |
Income Taxes | ||||
Current | 2,083 | 1,515 | ||
Deferred | 382 | 729 | ||
2,465 | 2,244 | |||
Net earnings | 3,911 | 2,740 | 1,171 | 42,74 |
Other Comprehensive Income (loss) | ||||
Items that may be subsequently reclassified to Profit orLoss: | ||||
Foreign currency translation adjustment | 325 | (16) | ||
Cash flow hedges reclassified to net earning | - | (1) | ||
Items That will not be reclassified to profit or loss: |
Actuarial gain (loss) on employee retirement benefit plans, net of income taxes. | 579 | (134) | ||
Other comprehensive Income (loss) | 904 | (151) | ||
Total Comprehensive Income | 4,815 | 2,589 | 2,226 | 85.98 |
Per Common share | ||||
Net earnings-basic | 2.61 | 1.77 | ||
Net earning-diluted | 2.60 | 1.76 | ||
Cash dividends | 0.73 | 0.50 |
Suncor Energy Inc.
Balance Sheet Horizontal Analysis
For the years ending December X, 2012
And December X, 2013
2013 | 2012 | Amount | Variance % Change 2013 from 2012 | |
Assets | ||||
Current assets | ||||
Cash and cash equivalents | 5,202 | 4,385 | ||
Accounts receivable | 5,254 | 5,201 | ||
Inventories | 3,944 | 3,697 | ||
Income taxes receivable | 294 | 799 | ||
Total current assets | 14,694 | 14,082 | ||
Property, plant and equipment, net | 57,270 | 55,434 | ||
Exploration and evaluation | 2,772 | 3,284 | ||
Other assets | 422 | 419 | ||
Goodwill & other intangible assets | 3,092 | 3,104 | ||
Deferred income taxes | 65 | 78 | ||
Total assets | 78,315 | 76,401 | 1,914 | 2.50 |
Liabilities and Shareholders’ Equity | ||||
Current liabilities | ||||
Short-term debt | 798 | 775 | ||
Current portion of long-term debt | 457 | 311 | ||
Accounts payable and accrued liabilities | 7,090 | 6,446 | ||
Current portion of provisions | 998 | 856 | ||
Income taxes payable | 1,263 | 1,165 | ||
Total current liabilities | 10,606 | 9,553 | ||
Long-term debt | 10,203 | 9,938 | ||
Other long-term liabilities | 1,464 | 2,319 | ||
Provisions | 4,078 | 4,932 | ||
Deferred income taxes | 10,784 | 10,444 | ||
Total liabilities | 37,135 | 37,186 | -51 | -0.14 |
Stockholder’s equity | 41,180 | 39,215 | 1,965 | 5.01 |
Total liabilities and equity | 78,315 | 76,401 | 1,915 | 2.50 See More from Todd Young |