Express the Following Income Statement Information in Common-Size Percents and in Trend

question 165

Essay

Express the following income statement information in common-size percents and in trend percents using 2013 as the base year.
$$\begin{array} { | l | c | c | c | c | } \hline & & & { \text { Corminori-Size Percents } } & { \text { Trend Percerts } } \\\hline & 2013 & 2014 & \begin{array}{l|l}2013 & 2014\end{array}& \begin{array}{l|l}2013 & 2014\end{array} \\\hline \text { Sales } & \$ 460,000 & \$ 540,000 & \begin{array}{l|l} & \end{array}&\begin{array}{l|l} & \end{array} \\\hline \begin{array} { l } \text {Cost of goods } \text { sold }\end{array} & \underline { 240,000 } & \underline { 290,000 } &\begin{array}{l|l} & \end{array} &\begin{array}{l|l} & \end{array} \\\hline \text { Gross profit } & \$ 220,000 & \$ 250,000 &\begin{array}{l|l} & \end{array} & \begin{array}{l|l} & \end{array}\\\hline\end{array}$$

Identify the various types of financial assets and their characteristics.

Appreciate the mechanisms businesses use to manage risk, particularly through derivatives.

Acknowledge the regulatory environment affecting corporations, especially post-financial crises.

Describe the characteristics and functions of financial intermediaries.

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Definitions:

Texas Courts

The judicative system within the state of Texas, comprising various levels of courts including the Supreme Court, Court of Criminal Appeals, and lower appellate and trial courts.

Federal Arbitration Act

The Federal Arbitration Act establishes a legal framework for the arbitration process, favoring the enforcement of arbitration agreements.

State Law

Laws established by individual U.S. states, as opposed to federal laws, which govern within the state's borders.

Decision-Making Authority

The power or right to make decisions on behalf of an organization, group, or individual.