To perform a vertical analysis of a balance sheet, you would divide each line item on the statement by:

Loring Company reported net income of $205,000. Beginning and ending Inventory balances were $40,000 and $45,000, respectively. Accounts payable balances at the beginning and end of the year were $35,000 and $33,000, respectively. Assuming that all relevant information has been presented, the company would report net operating cash flows of:

The statement of stockholders’ equity shows how each equity account changed during the year.

Reimer Company reports the following data:   2024 2023 Sales 100% 100% Cost of Goods Sold 21% 11% Gross Profit 79% 89% Operating Expenses 45% 35% Net Income 34% 54% When evaluating the results of operations, what can be said about Reimer Company?

Excerpts from Andre Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 40,000$ 36,000Inventory28,00035,000Net sales190,000186,000Cost of goods sold114,000108,000Total assets425,000405,000Total stockholders’ equity240,000225,000Net income32,50028,000 What is the average days in inventory for 2024?Note: Round your intermediate calculations to two decimal places and final answer to one decimal place.

Excerpts from Nationwide Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$ 81,000$ 82,000Inventory87,00077,000Net sales (all credit)490,000377,000Cost of goods sold265,000221,000Total assets850,000760,000Total stockholders’ equity510,000430,000Net income79,00054,000 What is the inventory turnover ratio for 2024?Note: Round your answer to one decimal place.

King Sporting Goods reports net income of $100,000, net sales of $500,000, and average assets of $1,000,000. The asset turnover is:

Assuming net income for the year is $240,000 and consider the following information, what is the net cash flows from operating activities? Increase in salaries payable$ 16,500Depreciation expense9,500Increase in prepaid rent26,000Loss on sale of asset1,200Increase in accounts payable31,500Increase in inventory89,000

Excerpts from Andre Company’s December 31, 2024 and 2023, financial statements are presented below: 20242023Accounts receivable$40,000$36,000Inventory28,00035,000Net sales190,000186,000Cost of goods sold114,000108,000Total assets425,000405,000Total stockholders’ equity240,000225,000Net income32,50028,000 What is the return on equity for 2024?Note: Round your answer to one decimal place.

A company issued 15,000 shares of $3 par value stock for $15 per share. What is true about the journal entry to record the issuance?