10 Mar Respond to at least two of yo
Ashford 4: – Week 3 – Discussion 2
Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Reference the Discussion Forum Grading Rubric for guidance on how your discussion will be evaluated.
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
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
Respond to at least two of your classmates’ posts.
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