Module 3 Income Statements and Profitability Ratios

In this module, you were introduced to the income statement and profitability ratios.  In this assignment, you will use this information to create an income statement and then analyze it for profitability. Selected accounts for Jackson, Inc. are listed below along with their balances before closing the year of 12/31/12. Jackson, Inc. is a firm that manufactures wireless mouse systems for laptops.  Use this information to complete the required elements below.

Interest expense               2,000                
Sales revenue                       297,000
Selling expenses                     38,200
   
Administrative expenses                     16,700
Cost of goods sold                     162,300
Dividends1                     12,200
   
Gain on sale of equipment                     3,600
Loss from fire                     7,500
Retained Earnings (1/1/12 balance)                     335,000
Tax expense                     22,800

The current syllabus cites a previous edition of the textbook. The attached update is correct for Winter and Spring—all current and upcoming terms.

1Dividends were declared and paid to Jackson, Inc. stockholders

 

Required:

  1. On a spreadsheet, prepare a multistep Income Statement for the year ending 12/31/12 with proper heading. See link below for sample income statement.  Near the bottom of your income statement should have a subtotal for Income before taxes and then subtract taxes to compute Net income. Net income should have a double underline.
  2. On the same spreadsheet, prepare a Statement of Retained Earnings for the year ending 12/31/12 with proper heading. See link below for sample statement of retained earnings. There are no adjustments to retained earnings and ending retained earnings should have a double underline.
  3. On the same spreadsheet, compute the gross profit margin, operating income margin, and net profit margin for 2012, showing the numerator and denominator for all ratios. Take ratios out to the nearest hundredth of a percentage (e.g., 33.33%).
  4. On the same spreadsheet, write a paragraph analyzing each of the profitability ratios for Jackson, Inc. given the following information from previous years and competitors.

 

  Gross profit margin Operating income margin Net profit margin
Jackson, 2011 47.22% 26.52% 17.75%
Jackson, 2010 48.87% 25.43% 17.03%
Competitor, 2012 43.22% 31.20% 21.14%

    
The following links provide sample formatting for income statements and statements of retained earnings.

  • http://www.accountingcoach.com/online-accounting-course/04Xpg04.html#income-statement-multiple-step
  • http://accountingexplained.com/financial/statements/retained-earnings-statement

Submit your spreadsheet in the Module 3 folder. Ensure your work is accurate and reflects CSU-Global Guide to Writing and APA Requirements.

 

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3-2 Final Project One Milestone One: Draft of Introduction and Financial Position

Prompt: Submit a draft of the Introduction and Financial Position sections of Final Project One. Specifically, the following critical elements must be addressed:

I. Introduction
A. Explain your interest in your organization and why you chose it, addressing its appeal both to you personally and to a wider audience. For
For example, you could explain how your organization exemplifies wider trends or issues in the field.
B. Create a basic profile of your organization and the business environment in which it operates. Be sure to include enough detail to be able to use it as support in the rest of your paper.
C. Identify the organizational mission and goals, explaining how they relate to the details in the basic profile you created. You will refer back to these throughout your paper.
II. Financial Position
A. Explain the historical and current financial positions of your organization. Provide examples to illustrate.
B. Identify any untapped revenue streams that your organization might consider, discussing any relevant legal or regulatory considerations. Cite specific evidence that supports your position.
C. Devise reasonable cost-saving strategies that your organization might employ, discussing any relevant legal or regulatory considerations. Cite specific evidence that supports your position.

Rubric
Guidelines for Submission: Milestone One should be 2 to 3 pages in length and should use 12-point Times New Roman font, double spacing, and one-inch margins. Sources should be cited according to APA style.

*** THE ATTACHED PAPER IS ONE I WROTE AND IS ONE I HAD YOU WRITE RECENTLY TO REFERENCE FOR THIS ASSIGNMENT****

Q‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍uestion: In the set reading for Week 2, Holmes (2009) trace

Q‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍uestion: In the set reading for Week 2, Holmes (2009) traces a number of social differences that structure and organize gendered and sexual identities. What do you understand by this term ‘social construction’ and how does it relate to gender? Give two examples to demonstrate the ways in which gender is a social construction, and the social structures that interplay with this. [NB: The reading by Connell (2009) ‘The Question of Gender (Links to an external site.)’ in Week 2 and many of the Further Readings will be very helpful sources that you can reference in this essay]. We are using this first assignment to get you thinking about the key concepts in this course—i.e. the social construction of gender—but you will also be learning how to write in an academic style and how to reference your work. Reference your work using the Harvard system and include a bibliography of works used at the end of your essay. For this assignment you must use and reference the set reading from Week 2 (Holmes (2009). There is no magic number for how many academic references you should have (a minimum of 3), but make sure you look at Week 2’s Further Readings and Weeks 1-4 if you wish. Also list any media articles, etc., that you have used. Your bibliography of works used at the end of your essay IS NOT included in the word count. Tips and Advice: Think about what the question is asking of you: This essay requires you to focus on gender as a social construction and how it operates as a social structure, unpacking it and providing examples to demonstrate that you understand and can independently apply this framework for understanding gender. Be sure that social construction and gender is the focus of your essay. Make sure all the information you include in your essay is connected and that you unpack the statement in full: what are they key concepts in Holmes’ understanding of gender as a social construction, what do they mean, and how do they relate to one another? What is meant by the social construction of gender? What do I mean by ‘examples’? Think of an example of a ‘gendered social structure’, ‘gender as a pattern in our social relationships’, or a ‘social arrangement’ that reinforces the gender binary. This can be almost anything you are able to observe in the social world: advertisements and media images, represented through film, television, music videos and song lyrics, are replete with messages on how to behave in a feminine or m‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍asculine way (gender as a pattern). What about representations of masculinity by those storming the Capitol in Washington January 2020? Male or female-dominated activities and single-sex schooling also reinforce a host of gender norms that are not natural or inevitable, but instead culturally determined (gender as a social construction/arrangement). Make your examples concrete through reference to 1-2 cultural texts, media report, academic article or image: for instance a pamphlet that advertises a single-sex school through drawing on gender stereotypes, a news item or a piece of advertisement from a magazine or store catalogue. Tutorials are a great place to discuss your examples with your tutor and/ or fellow classmates, and you are encouraged to do so. Make specific rather than general claims It is always important to be as specific with your examples as possible. For example, a good example to use would be the gendered marketing of children’s toys or clothes. This example would be made more concrete if you can demonstrate it through a specific example (for example a Target catalogue). Yet, by using this one example, you are merely showing that Target has ‘boy’s and ‘girl’s’ clothes and toys. In order to link this specific example to broader trends, you need to find a peer-reviewed source that demonstrates that the gendering of clothes and toys is, indeed, a general phenomenon. Always back up your arguments with reference to academic work. Explain and unpack your claims fully Fully unpack your claims, making sure you have explained and substantiated the arguments and connections you are making. Also make sure each paragraph links clearly the essay question. For example, it is not enough to write that ‘performances of gender demonstrate the social construction of gender.’ – How do they do this? – Provide a specific example of a gender performance and how it shows the constructed nature of gender. Provide a reference for the example. – Link the idea of gender performance back to Holmes’ and Connell’s definition of gender, and provide a reference to the passage in their texts that you are referring to. The best essays would reference performativity to its source–Judith Butler’s Gender Trouble (1990). Referencing: Use the Harvard style (see MyUni Resources) and if you are not referring to the article as a whole (the main argument of the piece), provide a page number of the quote, point, or idea you are referenc‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍ing. YOU MUST PROVIDE A PAGE NUMBER FOR DIRECT QUOTES.

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P‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍lease answer the following question in essay format. This m

P‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍lease answer the following question in essay format. This means each essay should have an introduction, conclusion and main argument paragraphs. Points will be deducted for major grammatical or spelling errors. Each essay should be 3-5 double spaced pages. Please remember to cite your sources and put citations in quotes. For example, if citing Marx you would put (Marx 18xx). You will‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍ not be able to submit after that. Try and get them in early because there are no late papers. Please submit as one document. Compare Durkheim’s discussion of the division of labor with that of Marx. Discuss how mechanical and organic solidarity are connected to this concept. Also, explain any errors or assumptions you feel (if any) Durkheim makes in his conception of division of lab‌‍‍‍‌‍‍‌‌‍‍‍‌‍‍‍‍‌‍‍or.

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