# accounting

posted by Renee

Express the following comparative income statements in common- size percents and assess whether or not this company’s situation has improved in the most recent year.
5 points)

MULAN CORPORATION
Comparative Income Statements
For Years Ended December 31, 2009 and 2008
2009 2008
Sales . . . . . . . . . . . . . . . . . . \$ 657,386 \$ 488,400
Cost of goods sold . . . . . . . . 427,301 286,202
Gross profit . . . . . . . . . . . . . 230,085 202,198
Operating expenses . . . . . . . 138,051 94,750
Net income . . . . . . . . . . . . . \$ 92,034 \$ 107,448

Respond Below: 2009 2008

Sales
Cost of goods sold
Gross Profit
Operating expenses
Net income

## Similar Questions

1. ### accounting

P15-1 Comparative statement data for Douglas Company and Maulder Company, two competitors, appear below. All balance sheet data are as of December 31, 2009, and December 31, 2008. Douglas Company Maulder Company 2009 2008 2009 2008 …
2. ### acc/220

Write a 350- to 700-word paper describing a balance sheet, an income statement, a retained earnings statement, and a statement of cash flows. How does a company use these financial statements to make future business decisions?
3. ### Intermediate Accounting

On January 4, 2002, Wynn, Inc., bought 15% of Parr Corporation’s common stock for \$60,000. Wynn appropriately accounts for this investment by the cost method. The following data concerning Parr are available for the years ended December …
4. ### Intermediate Accounting

Information relating to the capital structure of Parke Corporation is as follows: ` December 31 2008 2009 Outstanding shares of: Common stock 90,000 90,000 Preferred stock, convertible into 30,000 shares of common 30,000 30,000 10% …
5. ### Principles of Accounting I

Deliverable Length: 5-10 PowerPoint slides / can include an Excel file for financial analysis Details: Choose a public company in the food industry. Analyze the financial statements and assess whether the financial performance has …
6. ### accounting

Company reports net income of \$ 530,000 for the year ended December 31, 2009. It also reports \$ 95,400 depreciation expense and a \$ 4,000 gain on the sale of machinery. Its comparative balance sheets reveal a \$ 42,400 increase in accounts …
7. ### accounting

Selected year- end financial statements of Cadet Corporation follow. ( All sales were on credit; selected balance sheet amounts at December 31, 2008 (prior year – you will need this to calculate certain averages), were inventory, …
8. ### accounting

Comparative Statements of Retained Earnings for Renn-Dever Corporation were reported as follows for the fiscal years ending December 31, 2011, 2012, and 2013.
9. ### accounting 1

Ethic Case The Controller for Anderson Electric, Ron Foss, is reviewing the year-end adjusting entries prepared by the accounting staff for approval before they are posted to the general ledger. Angela Bennett, the company president, …
10. ### Accounting

Stuck on a few questions from my Accounting class. If anyone can help; I would be really grateful! 32. Of the following accounts, which might appear in the adjusted trial balance, but not in the post-closing trial balance?

More Similar Questions