(Answered) Question 1 - vertical analysisusing the income statement

Accounting

Question 1 - Vertical analysis

Using the income statement information for Einsworth Corporation that follows, prepare a vertical analysis of the income statement for Einsworth Corporation.

Einsworth Corporation Income Statement
	Amount	Percentage
Sales	$1,200,000.00	100.0%
Cost of goods sold	780,000.00
Gross profit	$420,000.00

Question 2 - Current Position Analysis

The following items are reported on a company's balance sheet:

Cash - $210,000

Marketable securities - 120,000

Accounts receivable (net) - 110,000

Inventory - 160,000

Accounts payable - 200,000

Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place.

Question 3 - Accounts Receivable Analysis

A company reports the following:

Sales - $3,150,000

Average accounts receivable (net) - 210,000

Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables.

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