Use the following selected information from Dealer, LLC to determine the 2017 and 2016 common size percentages for operating expenses using Net sales as the base.    2017 2016 Net sales $ 276,200   $ 231,400   Cost of goods sold   151,900     129,590   Operating expenses   55,240     53,240   Net earnings   27,820     19,820  

Intra-company analysis is based on comparisons with competitors.

The cash basis of accounting commonly increases the comparability of financial statements from period to period.

A corporation reported cash of $27,000 and total assets of $461,000 on its balance sheet. Its common-size percent for cash equals:

A credit is used to record an increase in all of the following accounts except:

Use the following information to calculate cash paid for salaries:           Salaries expense $ 175,000   Salaries payable, January 1   20,000   Salaries payable, December 31   12,000  

The building blocks of financial statement analysis include (1) liquidity, (2) salability, (3) solvency, and (4) profitability.

Selected current year company information follows:           Net income $ 15,953   Net sales   712,855   Total liabilities, beginning-year   83,932   Total liabilities, end-of-year   103,201   Total stockholders’ equity, beginning-year   198,935   Total stockholders’ equity, end-of-year   121,851   The return on total assets is:

Professor Urquhart accessed               annual report from its website as an example of places to get financial information for a company. 

A golf club should break down its annual cash budget into shorter time units because