1) Vertical analysis (common size) percentages for Kochheim Company’s sales, cost of goods sold, and expenses are shown below.Vertical Analysis201520142013Sales100.0100.0100.0Cost of goods sold60.262.463.5Expenses25.025.627.5(a) Calculate net income for 2015, 2014, & 2013.2) The following data are taken from the financial statements of Rainsberger Company. 20152014Accounts receivable (net), end of year$550,000$520,000Net sales on account3,960,0003,100,000Terms for all sales are 1/10, n/60. Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable (net) was $480,000. (Round answers to 1 decimal place, e.g. 1.6.)3) Schellhammer Corporation reported the following amounts in 2013, 2014, and 2015. 201320142015Current assets$200,000$210,000$240,000Current liabilities$150,000 $168,000 $184,000 Total assets$500,000 $600,000 $620,000 (b)Perform each of the three types of analysis on Schellhammer’s current assets. (Round percentages to 0 decimal places, e.g. 43% and ratios to 2 decimal places, e.g.1.58.) 201320142015Horizontal Analysis Current assets % %% Vertical Analysis Current assets% %% Ratio Analysis Current ratio
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