( b) Prepare a vertical analysis of the balance sheet data for Garcia Corporation in columnar form for 2014
Exercise 14-4
The comparative condensed income statements of Hendi Corporation are shown below.
( a) Prepare a horizontal analysis of the income statement data for Hendi Corporation using 2013 as a base.( Show the amounts of increase or decrease.)
( b) Prepare a vertical analysis of the income statement data for Hendi Corporation in columnar form for both years.
Exercise 14-13
Maulder Corporation has income from continuing operations of $ 264,100 for the year ended December 31, 2014. It also has the following items( before considering income taxes).
1. An extraordinary loss of $ 79,600. 2. A gain of $ 25,700 on the discontinuance of a division.
3. A correction of an error in last year’ s financial statements that resulted in a $ 16,600 understatement of 2013 net income.
Assume all items are subject to income taxes at a 33 % tax rate.
Prepare an income statement, beginning with income from continuing operations.
Problem 14-6A The comparative statements of Beulah Company are presented below.