accounting vertical analysis and inventory turnover questions

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1) Vertical analysis (common size) percentages for Kochheim Company’s sales, cost of goods sold, and expenses are shown below. Vertical Analysis 2015 2014 2013 Sales 100.0 100.0 100.0 Cost of goods sold 60.2 62.4 63.5 Expenses 25.0 25.6 27.5 (a) Calculate net income for 2015, 2014, & 2013. 2) The following data are taken from the financial statements of Rainsberger Company. 2015 2014 Accounts receivable (net), end of year $550,000 $520,000 Net sales on account 3,960,000 3,100,000 Terms for all sales are 1/10, n/60. Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable (net) was $480,000.(Round answers to 1 decimal place, e.g. 1.6.) 3) Schellhammer Corporation reported the following amounts in 2013, 2014, and 2015. 2013 2014 2015 Current assets $200,000 $210,000 $240,000 Current liabilities $150,000 $168,000 $184,000 Total assets $500,000 $600,000 $620,000 (b) Perform each of the three types of analysis on Schellhammer’s current assets. (Round percentages to 0 decimal places, e.g. 43% and ratios to 2 decimal places, e.g.1.58.) 2013 2014 2015 Horizontal Analysis Current assets         %  % % Vertical Analysis Current assets %  % % Ratio Analysis Current ratio

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