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Strayer ACC 557 Week 10 Chapter 14 (E14-3, E14-4, E14-13, P14-6A)
Exercise 14-3
The comparative condensed balance sheets of the Garcia Corporation are presented below.
(a) Prepare a horizontal analysis of the balance sheet data for Garcia Corporation using 2013 as a base.
(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.
STATUS
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).
- An extraordinary loss of $79,600.
- A gain of $25,700 on the discontinuance of a division.
- 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.
The common stock recently sold at $19.00 per share.
Compute the following ratios for 2014.
