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# Accounting homework help

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2. Category: Revenue and Net Income â€¢ What were the corporation’s net sales, cost of goods sold, and gross profit? â€¢ What was the corporate tax rate? This should be an item in the notes to the financial statement. Required disclosure usually explains the Federal Statutory rate and a reconciliation to the actual tax rate of the company each year. â€¢ Read the Statement of Comprehensive Income. Notice the first line is the Net Income from the Income Statement. Accumulated Other Comprehensive Net Income (or net loss) is an item in the Statement of Owners’ Equity Section and in the Balance Sheet. Post the value from the Balance Sheet and comment on whether this item is increasing or decreasing (take care with the concept of change and net income or net loss). â€¢ What items appear under Other Comprehensive Income (Loss)? â€¢ What is the account and the amount of the bottom line item on the Statement (or Consolidated Statement) of Comprehensive Income? 3. Using the SEC 10-K for your company, answer the questions below: â€¢ What were total current assets? â€¢ What were total current liabilities? â€¢ What were total assets and total stockholder’s equity (deficit)? â€¢ Calculate Working Capital (Current Assets – Current Liabilities = Working Capital) and describe how it changed by from last year. â€¢ If the company has treasury stock, is it increasing or decreasing in value? Remember that the normal balance for treasury stock is a negative value (debit balance). â€¢ What is the value for Other Comprehensive Net Income (or net loss), accumulated deficit, and /or Retained Earnings. How are these values changing? 4. Using vertical analysis (show your calculations), present values for this year and last year: 1. gross profit margin 2. net profit margin (use the last “net income” line on the statement) 3. Comment on changes: Are sales increasingly profitable? How is gross profit and net income changing, as a dollar value? 5. Answer the questions below for this year and last year, using your SEC 10-K: Category: Operating Activities 1. Net income versus total for operating activities: report these values. 2. Items of significance between net income and total for operating activities? 3. Is the business providing cash flow from operations? Category: Investing and Financing Activities 1. Describe significant long term assets (type and amount) purchased, sold, or retired during the current period as well as last year. 2. Describe significant financing activities used by your corporation to increase cash (or other assets): these would be related to long termliablities and stockholders equity. Category: Analysis Overall Cash Flow (total of three sections): Compare this year to last year.

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