% Sales % Sales % Change
Sales 45,000$ 100% 35,000$ 100% -22%
Less: Cost of Goods Sold 14,000 31% 16,000 46% 14%
Gross Margin 31,000 69% 19,000 54% -39%
Expenses:
Snick’s Board Shop
Income Statement
for the period ended
12/31/2018
12/31/2017
30%
11%
8%
Expenses 2018
$8,000
$10,000
$12,000
Expenses for 2017 and 2018
Student Name 3/6/2023 ch3-06_student_name.xlsx
Advertising 8,000$ 18% 6,000$ 17% -25%
Depreciation 1,200 3% 1,300 4% 8%
Wages 12,000 27% 9,000 26% -25%
Supplies 900 2% 2,100 6% 133%
Utilities 1,500 23,600 3% 1,600 20,000 5% 7%
% Assets % Assets % Change
Assets
Current Assets:
Liabilities and Stockholders’ Equity
Current Liabilities
Accounts Payable 11,000$ 65% 8,950$ 69% -19%
Payroll Liabilities 3,000 14,000 18% 2,050 11,000 16% -32%
Owner’s Equity 3,000 18% 2,000 15% -33%
December-2017
Snick’s Board Shop
Balance Sheet
as of
Cash 7,500$ 44% 1,000$ 8% -87%
Supplies 500 12,800 3% 500 8,000 4% 0%
Less: Accumulated Depreciation 4,800 4,200 28% 6,100 5,000 47% 27%
Profitability
Return on owners’ investment -40%
Return on total investment -7%
Profit margin -3%
Snick’s Board Shop
Ratio Analysis
December 2018
Gross margin 54%
Liquidity
Current ratio 0.73
Quick ratio 0.09
Receivable turnover n/a
Inventory turnover 2.83
Solvency
Debt-to-equity 550%
Liability 85%