Horizontal and Vertical AnalysisPlato Clothing Company specializes in selling apparel forspecial occasions. In 2022 and 2023, Plato's accountbalances were as follows:Accounts receivableMerchandise inventoryTotal assetsNet salesCost of goods soldRequired:Accounts receivable1. Calculate the change in each of the Plato's accountsfrom 2022 to 2023. Enter negative sign for decreasevalues.Merchandise inventoryTotal assetsNet salesCost of goods soldAccounts receivableMerchandiseinventory2. Indicate what happened from 2022 to 2023 to accountsreceivable and merchandise inventory as a percentage oftotal assets. Round your answers to the nearest wholepercent.2023.Cost of goodssold2023.2023$60,7507,650297,040221,000113,880$000002023.2022$45,00017,100288,750211,20084,100fromfrom% in 2022 toIndicate what happened from 2022 to 2023 to cost ofgoods sold as a percentage of net sales. Round youranswers to the nearest whole percent.from% in 2022 to% in 2022 to

Horizontal and vertical analysis are two common methods used in financial statement analysis to…

Horizontal and Vertical Analysis Plato Clothing Company specializes in selling apparel for special occasions. In 2022 and 2023, Plato's account balances were as follows: Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold Req red: Accounts receivable Merchandise inventory 1. Calculate the change in each of the Plato's accounts from 2022 to 2023. Enter negative sign for decrease values. Total assets Net sales Cost of goods sold Accounts receivable Merchandise inventory 2023. Cost of goods sold 2023. $ $ 2. Indicate what happened from 2022 to 2023 to accounts receivable and merchandise inventory as a percentage of total assets. Round your answers to the nearest whole percent. 2023. $ 2023 $60,750 7,650 297,040 221,000 113,880 $ 2022 from $45,000 17,100 288,750 211,200 84,100 from % in 2022 to Indicate what happened from 2022 to 2023 to cost of goods sold as a percentage of net sales. Round your answers to the nearest whole percent. from % in 2022 to % in 2022 to

Horizontal and Vertical Analysis Plato Clothing Company specializes in selling apparel for special occasions. In 2022 and 2023, Plato's account balances were as follows: Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold Req red: Accounts receivable Merchandise inventory 1. Calculate the change in each of the Plato's accounts from 2022 to 2023. Enter negative sign for decrease values. Total assets Net sales Cost of goods sold Accounts receivable Merchandise inventory 2023. Cost of goods sold 2023. $ $ 2. Indicate what happened from 2022 to 2023 to accounts receivable and merchandise inventory as a percentage of total assets. Round your answers to the nearest whole percent. 2023. $ 2023 $60,750 7,650 297,040 221,000 113,880 $ 2022 from $45,000 17,100 288,750 211,200 84,100 from % in 2022 to Indicate what happened from 2022 to 2023 to cost of goods sold as a percentage of net sales. Round your answers to the nearest whole percent. from % in 2022 to % in 2022 to

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 48CE

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Similar questions

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Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.
Use the last-in, first-out method (LIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for B75 Company, considering the following transactions.
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