OMM 622 OMM622 Week 3 DQ 2 Analyzing an Income Statement (Ashford)

OMM 622 OMM622 Week 3 DQ 2 Analyzing an Income Statement (Ashford)

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OMM 622 Week 3 Discussion 2 Analyzing an Income Statement

Analyzing an Income Statement. Income statements are presented in the table below for the Elf Corporation for the years ending December 31, 2010, 2009, and 2008. Write a one-paragraph analysis of Elf Corporation’s profit performance for the period. Create a common-sized income statement for the three years. What conclusions can you draw from the different parts of the statement? What are the causes and effects of Elf's performance for those three years?

Elf Corporation Income Statements for the Years Ending December 31

(in millions) 2010 Sales $700

Cost of goods sold 350
Gross profit 350
Operating Expenses:
Administrative 100
Advertising and marketing 50 75 75

2009         2008
$650         $550
 325          275
 325          275

100 100

Operating profit Interest expense Earnings before tax Tax expense (50%) Net income

Respond to at least two of your classmates’ posts. 


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