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1) Vertical analysis (common size) percentages for Kochheim

    1) Vertical analysis (common size) percentages for Kochheim Company’s sales, cost of goods sold, and expenses are shown below.Vertical Analysis201520142013Sales100.0100.0100.0Cost of goods sold60.262.463.5Expenses25.025.627.5(a) Calculate net income for 2015, 2014, & 2013.2) The following data are taken from the financial statements of Rainsberger Company. 20152014Accounts receivable (net), end of year$550,000$520,000Net sales on account3,960,0003,100,000Terms for all sales are 1/10, n/60.  Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable (net) was $480,000. (Round answers to 1 decimal place, e.g. 1.6.)3) Schellhammer Corporation reported the following amounts in 2013, 2014, and 2015. 201320142015Current assets$200,000$210,000$240,000Current liabilities$150,000 $168,000 $184,000 Total assets$500,000 $600,000 $620,000 (b)Perform each of the three types of analysis on Schellhammer’s current assets. (Round percentages to 0 decimal places, e.g. 43% and ratios to 2 decimal places, e.g.1.58.) 201320142015Horizontal Analysis      Current assets        % %%        Vertical Analysis      Current assets% %%         Ratio Analysis      Current ratio

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