i have to read these following income statements and write a paragraph on it.
Your Company Name here CONDENSED MULTISTEP INCOME STATEMENT Date Most recent year Year Year ($ in millions)
12/31/16 12/31/15 12/31/14 Sales Revenue
41,490,000.00 39,678,000.00 36,918,000.00 Cost of Goods Sold
6,933,000.00 6,638,000.00 6,262,000.00 Gross Profit
34,557,000.00 33,040,000.00 30,656,000.00 Operating Expenses
28,359,000.00 27,075,000.00 25,091,000.00 Operating Income
6,198,000.00 5,965,000.00 5,565,000.00 Nonoperating revenues and expenses
1,388,000.00 1,388,000.00 1,388,000.00 Income before Income tax
4,810,000.00 4,577,000.00 4,177,000.00 Provision for Income tax
1,378,000.00 1,261,000.00 1,108,000.00 Income from continuing operations
3,432,000.00 3,316,000.00 3,069,000.00 Nonrecurring items
542,000.00 1,187,000.00 1,194,000.00 NET INCOME
2,890,000.00 2,129,000.00 1,875,000.00 Earnings per share
7.3 4.99 4.16 Your Company Name here CONDENSED TREND ANALYSIS INCOME STATEMENT Date Most recent year Year Year ($ in millions)
2016 2015 2014 Sales Revenue
112.38% 107.48% 100.00% Cost of Goods Sold
110.72% 106.00% 100.00% Gross Profit
112.73% 107.78% 100.00% Operating Expenses
113.02% 107.91% 100.00% Operating Income
111.37% 107.19% 100.00% Nonoperating revenues and expenses
100.00% 100.00% 100.00% Income before Income tax
115.15% 109.58% 100.00% Provision for Income tax
124.37% 113.81% 100.00% Income from continuing operations
111.83% 108.05% 100.00% Nonrecurring items
45.39% 99.41% 100.00% NET INCOME
154.13% 113.55% 100.00% Earnings per share
175.48% 119.95% 100.00% Your Company Name here CONDENSED COMMON SIZE INCOME STATEMENT Date Most recent year Year Year ($ in millions)
2016 2015 2014 Sales Revenue
100.00% 100.00% 100.00% Cost of Goods Sold
16.71% 16.73% 16.96% Gross Profit
83.29% 83.27% 83.04% Operating Expenses
68.35% 68.24% 67.96% Operating Income
14.94% 15.03% 15.07% Nonoperating revenues and expenses
3.35% 3.50% 3.76% Income before Income tax
11.59% 11.54% 11.31% Provision for Income tax
3.32% 3.18% 3.00% Income from continuing operations
8.27% 8.36% 8.31% Nonrecurring items
1.31% 2.99% 3.23% NET INCOME
6.97% 5.37% 5.08% Earnings per share
0.00% 0.00% 0.00%
i have to read these following income statements and write a paragraph on it.
| Your Company Name here | |||
| CONDENSED MULTISTEP INCOME STATEMENT | |||
| Date | |||
| Most recent year | Year | Year | |
| ($ in millions) | |||
| 12/31/16 | 12/31/15 | 12/31/14 | |
| Sales Revenue | 41,490,000.00 | 39,678,000.00 | 36,918,000.00 |
| Cost of Goods Sold | 6,933,000.00 | 6,638,000.00 | 6,262,000.00 |
| Gross Profit | 34,557,000.00 | 33,040,000.00 | 30,656,000.00 |
| Operating Expenses | 28,359,000.00 | 27,075,000.00 | 25,091,000.00 |
| Operating Income | 6,198,000.00 | 5,965,000.00 | 5,565,000.00 |
| Nonoperating revenues and expenses | 1,388,000.00 | 1,388,000.00 | 1,388,000.00 |
| Income before Income tax | 4,810,000.00 | 4,577,000.00 | 4,177,000.00 |
| Provision for Income tax | 1,378,000.00 | 1,261,000.00 | 1,108,000.00 |
| Income from continuing operations | 3,432,000.00 | 3,316,000.00 | 3,069,000.00 |
| Nonrecurring items | 542,000.00 | 1,187,000.00 | 1,194,000.00 |
| NET INCOME | 2,890,000.00 | 2,129,000.00 | 1,875,000.00 |
| Earnings per share | 7.3 | 4.99 | 4.16 |
| Your Company Name here | |||
| CONDENSED TREND ANALYSIS INCOME STATEMENT | |||
| Date | |||
| Most recent year | Year | Year | |
| ($ in millions) | |||
| 2016 | 2015 | 2014 | |
| Sales Revenue | 112.38% | 107.48% | 100.00% |
| Cost of Goods Sold | 110.72% | 106.00% | 100.00% |
| Gross Profit | 112.73% | 107.78% | 100.00% |
| Operating Expenses | 113.02% | 107.91% | 100.00% |
| Operating Income | 111.37% | 107.19% | 100.00% |
| Nonoperating revenues and expenses | 100.00% | 100.00% | 100.00% |
| Income before Income tax | 115.15% | 109.58% | 100.00% |
| Provision for Income tax | 124.37% | 113.81% | 100.00% |
| Income from continuing operations | 111.83% | 108.05% | 100.00% |
| Nonrecurring items | 45.39% | 99.41% | 100.00% |
| NET INCOME | 154.13% | 113.55% | 100.00% |
| Earnings per share | 175.48% | 119.95% | 100.00% |
| Your Company Name here | |||
| CONDENSED COMMON SIZE INCOME STATEMENT | |||
| Date | |||
| Most recent year | Year | Year | |
| ($ in millions) | |||
| 2016 | 2015 | 2014 | |
| Sales Revenue | 100.00% | 100.00% | 100.00% |
| Cost of Goods Sold | 16.71% | 16.73% | 16.96% |
| Gross Profit | 83.29% | 83.27% | 83.04% |
| Operating Expenses | 68.35% | 68.24% | 67.96% |
| Operating Income | 14.94% | 15.03% | 15.07% |
| Nonoperating revenues and expenses | 3.35% | 3.50% | 3.76% |
| Income before Income tax | 11.59% | 11.54% | 11.31% |
| Provision for Income tax | 3.32% | 3.18% | 3.00% |
| Income from continuing operations | 8.27% | 8.36% | 8.31% |
| Nonrecurring items | 1.31% | 2.99% | 3.23% |
| NET INCOME | 6.97% | 5.37% | 5.08% |
| Earnings per share | 0.00% | 0.00% | 0.00% |
Related questions
WITH THE INFORMATION PROVIDE WRITE A FINANCE REPORT OF INCOMESHEET PFIZER 2015,2014,2013
| Your Company Name here | PFIZER INC | ||||||
| CONDENSED MULTISTEP INCOME STATEMENT | |||||||
| Date | 5-Nov-16 | ||||||
| Most recent year | Year | Year | |||||
| ($ in millions) | 2015 | 2014 | 2013 | ||||
| Sales Revenue | 48,851.00 | 49,605.00 | 51,584.00 | ||||
| Cost of Goods Sold | 9,648.00 | 9,577.00 | 9,586.00 | ||||
| Gross Profit | 39,203.00 | 40,028.00 | 41,998.00 | ||||
| Operating Expenses | 728.00 | 935.00 | 1,011.00 | ||||
| Operating Income | 11,824.00 | 13,249.00 | 15,184.00 | ||||
| Nonoperating revenues andexpenses | 2,859.00 | 1,009.00 | 532.00 | ||||
| Income before Income tax | 8,965.00 | 12,240.00 | 15,716.00 | ||||
| Provision for Income tax | 1,990.00 | 3,121.00 | 4,306.00 | ||||
| Income from continuingoperations | 14,512.00 | -2,980.00 | -10,233.00 | ||||
| Nonrecurring items | 1,152,000 | 250,000.00 | 1,182,000.00 | ||||
| NET INCOME | 6,960.00 | 9,135.00 | 22,003.00 | ||||
| Earnings per share | 1.24 | 1.42 | 3.19 | ||||
| Your Company Name here | PFIZER | ||||||
| CONDENSED TREND ANALYSISINCOME STATEMENT | |||||||
| Date | |||||||
| Most recent year | Year | Year | |||||
| ($ in millions) | |||||||
| 2015 | 2014 | 2013 | |||||
| Sales Revenue | 95% | 96% | 100.00% | ||||
| Cost of Goods Sold | 101% | 100% | 100.00% | ||||
| Gross Profit | 93% | 95% | 100.00% | ||||
| Operating Expenses | 72% | 92% | 100.00% | ||||
| Operating Income | 78% | 87% | 100.00% | ||||
| Nonoperating revenues andexpenses | 537% | 190% | 100.00% | ||||
| Income before Income tax | 57% | 78% | 100.00% | ||||
| Provision for Income tax | 46% | 72% | 100.00% | ||||
| Income from continuingoperations | -142% | 29% | 100.00% | ||||
| Nonrecurring items | 97% | 21% | 100.00% | ||||
| NET INCOME | 32% | 42% | 100.00% | ||||
| Earnings per share | 39% | 45% | 100.00% | ||||
| Your Company Name here | PFIZER | ||||||
| CONDENSED COMMON SIZE INCOME STATEMENT | |||||||
| Date | |||||||
| Most recent year | Year | Year | |||||
| ($ inmillions) | |||||||
| 2015 | 2014 | 2013 | |||||
| Sales Revenue | 100.00% | 100.00% | 100.00% | ||||
| Cost of Goods Sold | 19.75% | 19% | 19% | ||||
| Gross Profit | 80.25% | 81% | 81% | ||||
| Operating Expenses | 1.49% | 2% | 2% | ||||
| Operating Income | 24.20% | 27% | 29% | ||||
| Nonoperating revenues andexpenses | 5.85% | 2% | 1% | ||||
| Income before Income tax | 18.35% | 25% | 30% | ||||
| Provision for Income tax | 4.07% | 6% | 8% | ||||
| Income from continuingoperations | 29.71% | -6% | -20% | ||||
| Nonrecurring items | 2358.19% | 504% | 2291% | ||||
| NET INCOME | 14.25% | 18% | 43% | ||||
| Earnings per share | 0.00% | 0% | 0% | ||||
WITH THE INFORMATION PROVIDE WRITE A FINANCE REPORT OF INCOMESHEET PFIZER 2015,2014,2013
| YourCompany Name here | PFIZERINC | ||||||
| CONDENSEDMULTISTEP INCOME STATEMENT | |||||||
| Date | 5-Nov-16 | ||||||
| Most recent year | Year | Year | |||||
| ($ inmillions) | 2015 | 2014 | 2013 | ||||
| SalesRevenue | 48,851.00 | 49,605.00 | 51,584.00 | ||||
| Costof Goods Sold | 9,648.00 | 9,577.00 | 9,586.00 | ||||
| GrossProfit | 39,203.00 | 40,028.00 | 41,998.00 | ||||
| Operating Expenses | 728.00 | 935.00 | 1,011.00 | ||||
| Operating Income | 11,824.00 | 13,249.00 | 15,184.00 | ||||
| Nonoperating revenues and expenses | 2,859.00 | 1,009.00 | 532.00 | ||||
| Incomebefore Income tax | 8,965.00 | 12,240.00 | 15,716.00 | ||||
| Provision for Income tax | 1,990.00 | 3,121.00 | 4,306.00 | ||||
| Incomefrom continuing operations | 14,512.00 | -2,980.00 | -10,233.00 | ||||
| Nonrecurring items | 1,152,000 | 250,000.00 | 1,182,000.00 | ||||
| NETINCOME | 6,960.00 | 9,135.00 | 22,003.00 | ||||
| Earnings per share | 1.24 | 1.42 | 3.19 | ||||
| Your Company Namehere | PFIZER | ||||||
| CONDENSED TREND ANALYSIS INCOME STATEMENT | |||||||
| Date | |||||||
| Most recent year | Year | Year | |||||
| ($ inmillions) | |||||||
| 2015 | 2014 | 2013 | |||||
| SalesRevenue | 95% | 96% | 100.00% | ||||
| Costof Goods Sold | 101% | 100% | 100.00% | ||||
| GrossProfit | 93% | 95% | 100.00% | ||||
| Operating Expenses | 72% | 92% | 100.00% | ||||
| Operating Income | 78% | 87% | 100.00% | ||||
| Nonoperating revenues and expenses | 537% | 190% | 100.00% | ||||
| Incomebefore Income tax | 57% | 78% | 100.00% | ||||
| Provision for Income tax | 46% | 72% | 100.00% | ||||
| Incomefrom continuing operations | -142% | 29% | 100.00% | ||||
| Nonrecurring items | 97% | 21% | 100.00% | ||||
| NETINCOME | 32% | 42% | 100.00% | ||||
| Earnings per share | 39% | 45% | 100.00% | ||||
| Your Company Namehere | PFIZER | ||||||
| CONDENSED COMMONSIZE INCOME STATEMENT | |||||||
| Date | |||||||
| Most recent year | Year | Year | |||||
| ($ inmillions) | |||||||
| 2015 | 2014 | 2013 | |||||
| SalesRevenue | 100.00% | 100.00% | 100.00% | ||||
| Costof Goods Sold | 19.75% | 19% | 19% | ||||
| GrossProfit | 80.25% | 81% | 81% | ||||
| Operating Expenses | 1.49% | 2% | 2% | ||||
| Operating Income | 24.20% | 27% | 29% | ||||
| Nonoperating revenues and expenses | 5.85% | 2% | 1% | ||||
| Incomebefore Income tax | 18.35% | 25% | 30% | ||||
| Provision for Income tax | 4.07% | 6% | 8% | ||||
| Incomefrom continuing operations | 29.71% | -6% | -20% | ||||
| Nonrecurring items | 2358.19% | 504% | 2291% | ||||
| NETINCOME | 14.25% | 18% | 43% | ||||
| Earnings per share | 0.00% | 0% | 0% | ||||
The comparative balance sheets of Posner Company, for Years 1and 2 ended December 31, appear below in condensed form.
1 | Year 2 | Year 1 | |
2 | Cash | $53,000.00 | $50,000.00 |
3 | Accounts Receivable (net) | 37,000.00 | 48,000.00 |
4 | Inventories | 108,500.00 | 100,000.00 |
5 | Investments | 70,000.00 | |
6 | Equipment | 573,200.00 | 450,000.00 |
7 | Accumulated Depreciation-Equipment | (142,000.00) | (176,000.00) |
8 | $629,700.00 | $542,000.00 | |
9 | Accounts Payable | $62,500.00 | $43,800.00 |
10 | Bonds Payable, Due Year 2 | 100,000.00 | |
11 | Common Stock, $10 par | 325,000.00 | 285,000.00 |
12 | Paid-In Capital in Excess of ParâCommon Stock | 80,000.00 | 55,000.00 |
13 | Retained Earnings | 162,200.00 | 58,200.00 |
14 | $629,700.00 | $542,000.00 |
The income statement for the current year is as follows:
1 | Sales | $625,700.00 | |
2 | Cost of merchandise sold | 340,000.00 | |
3 | Gross profit | $285,700.00 | |
4 | Operating expenses: | ||
5 | Depreciation expense | $26,000.00 | |
6 | Other operating expenses | 68,000.00 | 94,000.00 |
7 | Income from operations | $191,700.00 | |
8 | Other revenue and expense: | ||
9 | Gain on sale of investment | $4,000.00 | |
10 | Interest expense | (6,000.00) | (2,000.00) |
11 | Income before income tax | $189,700.00 | |
12 | Income tax | 60,700.00 | |
13 | Net income | $129,000.00 |
Additional data for the current year are as follows:
| (a) | Fully depreciated equipment costing$60,000 was scrapped, no salvage, and new equipment was purchasedfor $183,200. |
| (b) | Bonds payable for $100,000 wereretired by payment at their face amount. |
| (c) | 5,000 shares of common stock wereissued at $13 for cash. |
| (d) | Cash dividends declared and paid,$25,000. |
Required:
| Prepare a statement of cash flows using the indirect methodof reporting cash flows from operating activities. Refer to theLabels and Amount Descriptions list provided for the exact wordingof the answer choices for text entries. Be sure to complete theheading of the statement. Use the minus sign to indicate cashoutflows, cash payments, decreases in cash, or any negativeadjustments. Prepare a statement of cash flows using the indirect method ofreporting cash flows from operating activities. Refer to the Labelsand Amount Descriptions list provided for the exact wording of theanswer choices for text entries. Be sure to complete the heading ofthe statement. Use the minus sign to indicate cash outflows, cashpayments, decreases in cash, or any negative adjustments.
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