The Comparative condensed balance sheets of Gurley Corporation are presented below.

Gurley Corporation
Comparative Condensed Balance Sheets
December 31

Instructions

Prepare a horizontal analysis of the balance sheet data for Gurley Corporation using 2019 as a base
Prepare a vertical analysis of the balance sheet data for Gurley Corporation in columnar form for 2020

Solution

Gurley Corporation
Condensed Balance Sheets
December 31

Gurley Corporation
Condensed Balance Sheets
December 31, 2020

Problems: Financial Statement Analysis

Problem-01: Financial Statement Analysis

Comparative statement data for Farris Company and Raizlaff Company, two competitors, appear below. All balance sheet data are as of December 31, 2019, and December 31, 2018 Instructions Prepare a...

Problem-02: Financial Statement Analysis

The comparative statements of Painter Tool Company are presented below All sales were on account. Instructions Compute the following ratios for 2020. (Weighted-average common shares in 2020 were 57,000.) Earnings...

Problem-03: Financial Statement Analysis

Condensed balance sheet and income statement data for Landwehr Corporation appear below. Additional Information The market price of Landwehr's common stock was $4.00, $5,00, and $8,00 for 2018, 2019, and...

Problem-04: Financial Statement Analysis

Financial information for Messersmith Company is presented below Additional Information Inventory at the beginning of 2019 was $118,000 Total Assets at the beginning of 2019 were $630,000. No common stock...

Problem-05: Financial Statement Analysis

Selected financial data of Target Corporation and Wal-Mart Stores, Inc. for a recent year are presented here (in millions) Instructions For each company, compute the following ratios. Current. Receivables turnover....

Problem-06: Financial Statement Analysis

The comparative statements of Corbin Company are presented below and on Compute numerous rations. Additional dataThe common stock recently sold at $19.50 per share Instructions Compute the following ratios for...

Problem-07: Financial Statement Analysis

An incomplete income statement and an incomplete comparative balance sheet of Deines Corporation are presented below. Additional information: The accounts receivable turnover for 2020 is 10 times All sales are...

Problem-08: Financial Statement Analysis

Terwilliger Corporation owns a number of cruise ships and a chain of hotels. The hotels, which have not been profitable, were discontinued on September 1, 2020. The 2020 operating results...

Problem-09: Financial Statement Analysis

The ledger of Jaime Corporation at December 31,2020, contains the following summary data. Your analysis reveals the following additional information that is not included in the above data. The entire...

Problem-10: Financial Statement Analysis

Financial information for Kurzen Inc. is presented below. Instructions Prepare a schedule showing a horizontal analysis for 2020 using 2019 as the base year

Problem-11: Financial Statement Analysis

Operating data for Navarro Corporation are presented below. Instructions Prepare a schedule showing a vertical analysis for 2020 and 2019

Problem-12: Financial Statement Analysis

The Comparative condensed balance sheets of Gurley Corporation are presented below. Gurley CorporationComparative Condensed Balance SheetsDecember 31 Instructions Prepare a horizontal analysis of the balance sheet data for Gurley Corporation...

Problem-13: Financial Statement Analysis

The Comparative condensed income statements of Emley Corporation are shown below. Emley CorporationComparative Condensed Balance SheetsFor the Years Ended December 31 Instructions Prepare a horizontal analysis of the income statement...

Problem-14: Financial Statement Analysis

Suppose Nordstrom, Inc, which operates department stores in numerous states, has the following selected financial statement data for a recent year. Nordstrom, IncBalance Sheets (partial) For the year, net sales...

Problem-15: Financial Statement Analysis

Keener Incorporation had the following transactions occur involving current assets and current liabilities during February 2020. Feb. 3Accounts receivable of $15,000 are collected. 7Equipment is purchased for $28,000 cash. 11Paid...

Problem-16: Financial Statement Analysis

Frizell Company has the following comparative balance sheet data. Additional information for 2020: Net income was $25,000 Sales on account were $410,000. Sales returns and allowances were $20,000 Cost of...

Problem-17: Financial Statement Analysis

Selected Comparative statements data for Queen products company are presented below. All balance sheet data as of December 31. Instructions Compute the following ratios for 2020. Profit margin Asset turnover....

Problem-18: Financial Statement Analysis

The income statement for Sutherland, Inc. appears below. Additional information: The weighted-average common shares outstanding in 2020 were 30,000 shares. The market price of Sutherland, Inc. stock was $13 in...

Problem-19: Financial Statement Analysis

Lingenfelter Corporation experienced a fire on December 31, 2020, in which its financial records were partially destroyed. It has been able to salvage some of the rerecords and has ascertained...

Problem-20: Financial Statement Analysis

Wiemers Corporation's comparative balance sheets are presented below. Wiemers's 2020 income statement included net sales of $100,000, cost of goods sold of $60,000, and net income of $15,000. Instructions Compute...

Problem-21: Financial Statement Analysis

For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data shown below. The loss on discontinued operations comprised a $50,000 loss from operations and a...

Problem-22: Financial Statement Analysis

Trayer Corporation has income from continuing operations of $290,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). An unrealized loss of...

Financial Statement Analysis

Problem-12: Financial Statement Analysis

Instructions

Solution

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