## Answers

Answer | ||||||

KORBIN COMPANY | ||||||

Common size comparative income statements for the year end dec 31, 2019,2018,2017 | ||||||

2019 | % | 2018 | % | 2017 | % | |

sales | $ 524,799 | 100 | $ 402,039 | 100 | $ 279,000 | 100 |

COGS | $ 315,929 | 60.20 | $ 251,676 | 62.60 | $ 178,560 | 64 |

Gross profit | $ 208,870 | 39.80 | $ 150,363 | 37.40 | $ 100,440 | 36 |

selling expenses | $ 74,521 | 14.20 | $ 55,481 | 13.80 | $ 36,828 | 13.20 |

administrative expenses | $ 47,232 | 9.00 | $ 35,379 | 8.80 | $ 23,157 | 8.30 |

total expenses | $ 121,753 | 23.20 | $ 90,860 | 22.60 | $ 59,985 | 21.50 |

income befor tax | $ 87,117 | 16.60 | $ 59,503 | 14.80 | $ 40,455 | 14.50 |

Income taxes | $ 16,204 | 3.09 | $ 12,198 | 3.03 | $ 8,212 | 2.94 |

Net income | $ 70,913 | 13.51 | $ 47,305 | 11.77 | $ 32,243 | 11.56 |

#### Similar Solved Questions

1 answer

##### Please help I am very confused on how to solve this South Shore Construction builds permanent...

Please help I am very confused on how to solve this South Shore Construction builds permanent docks and seawalls along the southern shore of Long Island, New York. Although the firm has been in business only five years, revenue has increased from $315,000 in the first year of operation to $1,075,000...

1 answer

##### Flipping Coins For a fair coin, the chance of getting tails is 1/2. Counting the number...

Flipping Coins For a fair coin, the chance of getting tails is 1/2. Counting the number of tails Let's experiment with the total number of tails in n trials. Total number of tails in a small number of coin flips ם Suppose we flip 10 coins (with 1 = Tails and 0 = Heads). Here are six sample...

1 answer

##### <Homework 8 Exercise 8.44 A 15.0 kg block is attached to a very light horizontal spring...

<Homework 8 Exercise 8.44 A 15.0 kg block is attached to a very light horizontal spring of force constant 325 N/m and is resting on a smooth horizontal table. (See the figure below (Figure 1).) Suddenly it is struck by a 3.00 kg stone traveling horizontally at 8.00 m/s to the right, whereupon the...

1 answer

##### How many sigma and pi bonds are in the carbonate ion, CO, ? Hint: consider ONE...

How many sigma and pi bonds are in the carbonate ion, CO, ? Hint: consider ONE of the resonance structures only in formulating your answer. : OĆ :0 12 : : three sigma bonds, zero pi bonds three sigma bonds, three pi bonds four sigma bonds, zero pi bonds three sigma bonds, one pi bond Question 8...

1 answer

##### Describe the credentialing and regulation of health professionals (Chapter 7) and briefly discuss the following health...

Describe the credentialing and regulation of health professionals (Chapter 7) and briefly discuss the following health care occupations: Physicians Nurses – RNs, LPNs, NPs, Dentists Pharmacists Podiatrists Chiropractors Optometrists...

1 answer

##### 4. Riemann sums - ten rectangles same area A) with ten rectangles in Repeat problem 3...

4. Riemann sums - ten rectangles same area A) with ten rectangles in Repeat problem 3 (same function f(x) = place of five: a) Draw ten rectangles to visualize a Riemann sum of your choice for the area A. b) Give an estimate of the area A using the Riemann sum (the sum of the areas of the ten rectang...

1 answer

##### In this Discussion, you will identify three strategies for improving physician quality practice ranking on physician...

In this Discussion, you will identify three strategies for improving physician quality practice ranking on physician profiling and quality report cards. Be sure to justify your recommendations. ....

1 answer

##### 19. Lasix (a diuretic) is also used in the dog (5.5lb teacup poodle) to decrease fluid...

19. Lasix (a diuretic) is also used in the dog (5.5lb teacup poodle) to decrease fluid retention. It comes in a 5% solution. The dog needs a dose of 4mg/kg IV every hour for a total of 3 hours. What is the total amount of the drug needed? 5%=5g -- mg 1 /100ML annonsen 58 x 1000mg Toome of 50mg/lML m...

1 answer

##### PLEASE HELP ME WITH BOTH Previous 1 2 3 4 un 6 7 8 9 10...

PLEASE HELP ME WITH BOTH Previous 1 2 3 4 un 6 7 8 9 10 Next Question 9 of 23 (1 point) View problem in a pop-up Refer to the functions r. p, and q. Find the function (p - r)(x) and write the domain in interval notation. Write any number in the answer as an integer or a simplified fraction. r(x)...

1 answer

##### 4. [MT, p. 166] Determine the second-order Taylor formula for the given function about the given...

4. [MT, p. 166] Determine the second-order Taylor formula for the given function about the given point (xo, yo). (a) f(x,y) = (x+y, where to = 0, yo = 0. (b) f(x, y) = sin(xy) + cos(x), where xo = 0, yo = 0....

1 answer

##### Southwestern Wear Inc. has the following balance sheet: Current assets $1,875,000 Accounts payable $375,000 Fixed assets 1,875,000 Notes payable 750,000 Subordinated debentures 750,000 Total debt $1,8...

Southwestern Wear Inc. has the following balance sheet: Current assets $1,875,000 Accounts payable $375,000 Fixed assets 1,875,000 Notes payable 750,000 Subordinated debentures 750,000 Total debt $1,875,000 Common equity 1,875,000 Total assets $3,750,000 Total liabilities and equity $3,750,000 The t...

1 answer

##### You are given the following information about the economy: the nominal interest rate percent; the real...

You are given the following information about the economy: the nominal interest rate percent; the real rate of interest = 6 percent. The inflation premium is: O 8 percent O 2 percent 6 percent 14 percent...

1 answer

##### After our Sun exhausts its nuclear fuel, its ultimate fate may be to collapse to a...

After our Sun exhausts its nuclear fuel, its ultimate fate may be to collapse to a white dwarf state, in which it has approximately the same mass as it has now but a radius equal to roughly the size of the Earth's radius. (a) Calculate the average density of this white dwarf if the Sun were to c...

1 answer

##### Answer the following questions (25 points) (a) Discuss the physical reason(s) as to why the chemical...

Answer the following questions (25 points) (a) Discuss the physical reason(s) as to why the chemical potential of a pure substance decreases (b) 1. with increasing temperature. (10) The enthalpy of vaporization of a certain liquid was determined at its normal boiling point of 182 K as 14.37 k]/mol. ...

1 answer

##### CSM Machine Shop is considering a four-year project to improve its production efficiency. Buying a new...

CSM Machine Shop is considering a four-year project to improve its production efficiency. Buying a new machine press for $397,000 is estimated to result in $145,000 in annual pretax cost savings. The press is eligible for 100 percent bonus depreciation and it will have a salvage value at the end of ...

1 answer

##### (3 marks) QUESTION 2 5p a) The energy level diagram for Sodium, Na, is 4.0 shown...

(3 marks) QUESTION 2 5p a) The energy level diagram for Sodium, Na, is 4.0 shown opposite. ap 3.0 Calculate the exact energy (in electron volts) of the photon emitted when an electron relaxes from the 4p to the 3s level in a sodium atom. 3p 2.0 (2 marks) 1.0F DATA Planck's constant 6.63 10 Js Ex...

1 answer

##### Calculate using physics 6. A 9-V battery is connected through a switch to 2 resistors, R1...

Calculate using physics 6. A 9-V battery is connected through a switch to 2 resistors, R1 = 15 Ohm and R2 = 23 Ohm. and an deal inductor L = 0.46 H as shown in the figure. The switch is initially open. Eight milliseconds after the switch is closed, what is the voltage cross the inductor?...

1 answer

##### 1) Except for differentiation on product physical characteristics, what other dimensions for differentiation are possible? Provide...

1) Except for differentiation on product physical characteristics, what other dimensions for differentiation are possible? Provide some examples of each - in the context of trying to position a new brand of hybrid car. 2) Many firms target lead users or innovators with their new products, with the a...