Need help with all three exercises.

Performing horizontal analysis—income statement

Data for McCormick Designs, Inc. follow:

Instructions

1. Prepare a horizontal analysis of the comparative income statement of McCormick Designs, Inc. Round percentage changes to one decimal place.
2. Why did 2016 net income increase by a higher percentage than net sales revenue?

Exercise 2

Performing vertical analysis of a balance sheet

Tri Designs, Inc. has the following data:

Perform a vertical analysis of Tri Designs’s balance sheet for each year.

Exercise 3

Computing key ratios

The financial statements of Victory’s Natural Foods include the following items:

Compute the following ratios for the current year:

1. Current ratio
2. Cash ratio
3. Acid-test ratio
4. Inventory turnover
5. Days’ sales in inventory
6. Days’ sales in receivables
7. Gross profit percentage (assume all sales are on credit

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