The following information is available for Whispering WindsCorp. for the year ended December 31, 2017: Other revenues andgains $9,500 Sales revenue $682,900 Other expenses and losses15,200 Operating expenses 238,800 Cost of goods sold 205,400 Salesreturns and allowances 40,000 Other comprehensive income 5,700Prepare a multiple-step income statement for Whispering Winds Corpand comprehensive income statement. The company has a tax rate of30%. This rate also applies to the other comprehensive income.WHISPERING WINDS CORP. Income Statement choose the accountingperiod select an opening name for section one enter an incomestatement item sales re $enter a dollar amount select betweenaddition and deduction: enter an income statement item enter adollar amount select a closing name for section one $enter a totalamount for section one enter an income statement item enter adollar amount select a summarizing line for the first part enter atotal amount for the first part select an income statement itementer a dollar amount select the summarizing line for the secondpart enter a total amount for the second part select an incomestatement item $enter a dollar amount select an income statementitem enter a dollar amount enter a subtotal of the two previousamounts select a summarizing line for the third part enter a totalamount for all three parts enter an income statement item enter adollar amount select a closing name for this statement $enter atotal net income or loss amount WHISPERING WINDS CORP.Comprehensive Income Statement choose the accounting period selecta comprehensive income item $enter a dollar amount select acomprehensive income item enter a dollar amount select a closingname for this statement $enter a total amount for this statement Byaccessing this Question Assistance, you will learn while you earnpoints based on the Point Potential Policy set by yourinstructor.
The following information is available for Whispering WindsCorp. for the year ended December 31, 2017: Other revenues andgains $9,500 Sales revenue $682,900 Other expenses and losses15,200 Operating expenses 238,800 Cost of goods sold 205,400 Salesreturns and allowances 40,000 Other comprehensive income 5,700Prepare a multiple-step income statement for Whispering Winds Corpand comprehensive income statement. The company has a tax rate of30%. This rate also applies to the other comprehensive income.WHISPERING WINDS CORP. Income Statement choose the accountingperiod select an opening name for section one enter an incomestatement item sales re $enter a dollar amount select betweenaddition and deduction: enter an income statement item enter adollar amount select a closing name for section one $enter a totalamount for section one enter an income statement item enter adollar amount select a summarizing line for the first part enter atotal amount for the first part select an income statement itementer a dollar amount select the summarizing line for the secondpart enter a total amount for the second part select an incomestatement item $enter a dollar amount select an income statementitem enter a dollar amount enter a subtotal of the two previousamounts select a summarizing line for the third part enter a totalamount for all three parts enter an income statement item enter adollar amount select a closing name for this statement $enter atotal net income or loss amount WHISPERING WINDS CORP.Comprehensive Income Statement choose the accounting period selecta comprehensive income item $enter a dollar amount select acomprehensive income item enter a dollar amount select a closingname for this statement $enter a total amount for this statement Byaccessing this Question Assistance, you will learn while you earnpoints based on the Point Potential Policy set by yourinstructor.
Related questions
Evaluate the financial performance of Coca-Cola; (KO) and Pepsi (PEP) for the year ended December 31, 2016. Follow the instructions below to access each companyâs information and perform a financial analysis based on the financial measures we have learned in this course.
Select Http://www.yahoo.com/ and then select Finance. In the Search section at the top of the screen select KO for Coca-Cola and PEP for Pepsi
Select âFinancialsâ and select Income Statement when accessing the Income Statement
Select âFinancialsâ and select Balance Sheet when accessing the Balance Sheet
Do the following for KO and PEP for the year ended 12/31/16 only
Perform a vertical analysis of the Income Statement for KO and PEP for the year ended 12/31/16.
Include in your vertical analysis all of following as a % of total revenue:
Cost of Revenue as a % of Total Revenue
Gross Profit as a % of Total Revenue
Selling, gen and administrative expenses as a % of Total Revenue
Operating Income as a % of Total Revenue
Net Income as a % of Total Revenue
Current Ratio
Accounts Receivable turnover. Assume the total revenue on the income statement represents all sales on account for the year
Average collection period
Merchandise Inventory turnover. Assume the Cost of Revenue on the Income Statement is the same as the Cost of Goods Sold
Debt to Asset Ratio
Return on Assets Ratio
Asset Turnover
In preparing the vertical analysis and other financial analysis above; define each measure and identify the strengths and weaknesses of KO and PEP as related to each other. Below is an example of you should set it up.
| Working Capital | KO | PEP |
| Current Assets | $ 34,010,000 | $ 27,089,000 |
| - Current Liabilities | $ 26,532,000 | $ 21,135,000 |
| Net Working Capital = | $ 7,478,000 | $ 5,954,000 |
Strength or Weakness
Working Capital measures the ability of a company to meet its short-term obligations with current assets. Pepsi is and Coke are performing at about the same level. Cokes working capital is a little higher because they have higher current assets and current liabilities.
Requirements for Each Group
1.The vertical analysis prepared in 4 A above.
2.All of your computations for the financial analysis. (4 B through 4 H)
3.Identification of strengths and weaknesses. (Include a definition of each financial measure, a description of which company is doing better in each financial measure including the vertical analysis and explain why)
4.All group members must submit the Report Project Team Assessment
5.If the requirements above are not met, points will be deducted from Parts of the group projects.
Enter all requirements on the Group Project Problem 4 Tab.
Submit one set of answers per group for all four problems. Make sure to include each group members name at the top of each spreadsheet.
Each group member should download the Group Team Assessment and evaluate themselves and everyone else in their group. This evaluation should be submitted anonymously.
