W3OMM622Dis Please Note: I am not sure if the assignment calls for paragraphs or other information, however, if it calls for paragraphs I need at least 3 f

W3OMM622Dis Please Note: I am not sure if the assignment calls for paragraphs or other information, however, if it calls for paragraphs I need at least 3 f

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Please Note: I am not sure if the assignment calls for paragraphs or other information, however, if it calls for paragraphs I need at least 3 for each. 

I need 3 paragraphs for each discussion which is a total of 6 paragraphs for the part that requires paragraph. Please keep both separate and address each question. Please make sure you check grammar and punctuation errors, as well as quoting and using in text citations. PLEASE make sure you cite the information, do NOT plagiarize and ADD all references. No Cover Page Needed PLEASE INBOX ME IF YOU HAVE QUESTIONS 

PLEASE SEE ATTACHMENTS and inbox me if you need reading material on the assignment 

Please Note: I am not sure if the assignment calls for paragraphs or other information, however, if it calls for paragraphs I need at least 3 for each.

I need 3 paragraphs for each discussion which is a total of 6 paragraphs for the part that requires paragraph. Please keep both separate and address each question. Please make sure you check grammar and punctuation errors, as well as quoting and using in text citations. PLEASE make sure you cite the information, do NOT plagiarize and ADD all references. No Cover Page Needed PLEASE INBOX ME IF YOU HAVE QUESTIONS 

PLEASE SEE ATTACHMENTS and inbox me if you need reading material on the assignment

Part 1

Income Statement [NACE: 1, 2, 3, 5, 6, 8]

Referencing this week’s readings and lecture, address the following:

· What are the two causes of an increasing or decreasing sales number?

· Discuss all the reasons that might explain an increase or decrease in gross profit.

Part 2

Analyzing an Income Statement [NACE: 1, 2, 3, 5, 6, 8]

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

2009

2008

Sales

$700

$650

$550

Cost of goods sold

  350

  325

  275

Gross profit

  350

  325

  275

Operating Expenses:

Administrative

  100

  100

  100

Advertising and marketing

    50

    75

    75

Operating profit

$200

$150

$100

Interest expense

    70

    50

    30

Earnings before tax

$130

$100

$  70

Tax expense (50%)

    65

    50

    35

Net income

$  65

$  50

$  35

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