Horizontal And Vertical Hand-outs.docx
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ABC Merchandising Income Statement For the year ended December 31, 2018 Horizontal Analysis
2018
2017
Sales
₱1,000,000
₱800,000
Merchandise Inventory, Beginning
20,000
25,000
Purchases
700,000
450,000
Total Goods Available for Sale
720,000
475,000
Merchandise Inventory, Ending
(41,000)
(30,500)
Cost of Goods Sold
(679,000)
(444,500)
Gross Profit
321,000
355,500
Operating Expenses
(120,000)
(75,000)
Earnings before Interest and Taxes
201,000
280,500
Interest Expense
(2,500)
(2,500)
Earnings before Tax
198,500
278,000
Income Tax Expense
(63,520)
(88,960)
Net Income
₱134,980
₱189,040
Less : Cost of Goods Sold
Peso Change
% Change
ABC Merchandising Income Statement For the year ended December 31, 2018
Vertical Analysis
2018
Sales
₱1,000,000
Less : Cost of Goods Sold Merchandise Inventory, Beginning
30,500
Purchases
700,000
Total Goods Available for Sale
730,500
Merchandise Inventory, Ending
(41,000)
Cost of Goods Sold
(689,500)
Gross Profit
310,500
Operating Expenses
(120,000)
Earnings before Interest and Taxes
190,500
Interest Expense
(2,500)
Earnings before Tax
188,000
Income Tax Expense
(60,160)
Net Income
₱127,840
% of Sales
ASSETS
ABC Merchandising Statement of Financial Position December 31, 2018 (Horizontal Analysis) 2018 2017 ₱75,000
₱64,000
Marketable Securities
30,000
30,000
Accounts Receivable
45,000
50,000
Merchandise Inventory
41,000
30,500
5,000 196,000
5,000 179,500
350,000
320,000
₱546,000
₱499,500
₱29,000
₱20,000
Salaries Payable
25,000
16,000
Utilities Payable
12,000
7,000
Taxes Payable
30,000
30,000
Total Current Liabilities
96,000
73,000
Notes Payable (due 2020)
200,000
200,000
Total Liabilities
296,000
273,000
Owner’s Equity
250,000 ₱546,000
226,500 ₱499,500
Cash
Prepaid Expenses Total Current Assets Property, Plant and Equipment (net) TOTAL ASSETS LIABILTIES & OWNER’S EQUITY Accounts Payable
TOTAL LIABILITIES & EQUITY
Peso %Change Change ₱11,000 17.19%
ABC Merchandising Statement of Financial Position December 31, 2018 (Vertical Analysis) ASSETS 2018 % of total assets Cash
₱75,000
Marketable Securities
30,000
Accounts Receivable
45,000
Merchandise Inventory
41,000
Prepaid Expenses Total Current Assets Property, Plant and Equipment (net) TOTAL ASSETS
5,000 196,000 350,000 ₱546,000
LIABILTIES & OWNER’S EQUITY Accounts Payable
₱29,000
Salaries Payable
25,000
Utilities Payable
12,000
Taxes Payable
30,000
Total Current Liabilities
96,000
Notes Payable (due 2020)
200,000
Total Liabilities
296,000
Owner’s Equity
250,000 ₱546,000
TOTAL LIABILITIES & EQUITY
13.74%
2018
2017
Sales
₱1,000,000
₱800,000
Merchandise Inventory, Beginning
20,000
25,000
Purchases
700,000
450,000
Total Goods Available for Sale
720,000
475,000
Merchandise Inventory, Ending
(41,000)
(30,500)
Cost of Goods Sold
(679,000)
(444,500)
Gross Profit
321,000
355,500
Operating Expenses
(120,000)
(75,000)
Earnings before Interest and Taxes
201,000
280,500
Interest Expense
(2,500)
(2,500)
Earnings before Tax
198,500
278,000
Income Tax Expense
(63,520)
(88,960)
Net Income
₱134,980
₱189,040
Less : Cost of Goods Sold
Peso Change
% Change
ABC Merchandising Income Statement For the year ended December 31, 2018
Vertical Analysis
2018
Sales
₱1,000,000
Less : Cost of Goods Sold Merchandise Inventory, Beginning
30,500
Purchases
700,000
Total Goods Available for Sale
730,500
Merchandise Inventory, Ending
(41,000)
Cost of Goods Sold
(689,500)
Gross Profit
310,500
Operating Expenses
(120,000)
Earnings before Interest and Taxes
190,500
Interest Expense
(2,500)
Earnings before Tax
188,000
Income Tax Expense
(60,160)
Net Income
₱127,840
% of Sales
ASSETS
ABC Merchandising Statement of Financial Position December 31, 2018 (Horizontal Analysis) 2018 2017 ₱75,000
₱64,000
Marketable Securities
30,000
30,000
Accounts Receivable
45,000
50,000
Merchandise Inventory
41,000
30,500
5,000 196,000
5,000 179,500
350,000
320,000
₱546,000
₱499,500
₱29,000
₱20,000
Salaries Payable
25,000
16,000
Utilities Payable
12,000
7,000
Taxes Payable
30,000
30,000
Total Current Liabilities
96,000
73,000
Notes Payable (due 2020)
200,000
200,000
Total Liabilities
296,000
273,000
Owner’s Equity
250,000 ₱546,000
226,500 ₱499,500
Cash
Prepaid Expenses Total Current Assets Property, Plant and Equipment (net) TOTAL ASSETS LIABILTIES & OWNER’S EQUITY Accounts Payable
TOTAL LIABILITIES & EQUITY
Peso %Change Change ₱11,000 17.19%
ABC Merchandising Statement of Financial Position December 31, 2018 (Vertical Analysis) ASSETS 2018 % of total assets Cash
₱75,000
Marketable Securities
30,000
Accounts Receivable
45,000
Merchandise Inventory
41,000
Prepaid Expenses Total Current Assets Property, Plant and Equipment (net) TOTAL ASSETS
5,000 196,000 350,000 ₱546,000
LIABILTIES & OWNER’S EQUITY Accounts Payable
₱29,000
Salaries Payable
25,000
Utilities Payable
12,000
Taxes Payable
30,000
Total Current Liabilities
96,000
Notes Payable (due 2020)
200,000
Total Liabilities
296,000
Owner’s Equity
250,000 ₱546,000
TOTAL LIABILITIES & EQUITY
13.74%
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