Brief Exercise 18-04Using these data from the comparative balance sheet of Rollaird Company, perform horizontal analysis. December 31, 2020December 31, 2019Accounts receivable$550,200$420,000Inventory870,000600,000Total assets2,858,9002,530,000(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Increase or (Decrease)December 31, 2020December 31, 2019AmountPercentageAccounts receivable$550,200$420,000$%Inventory870,000600,000%Total assets2,858,9002,530,000%Brief Exercise 18-05Using these data from the comparative balance sheet of Rollaird Company, perform vertical analysis.December 31, 2020December 31, 2019Accounts receivable$475,450$419,220Inventory745,300673,200Total assets2,570,0003,060,000(Round percentages to 1 decimal place, e.g. 12.1%.) December 31, 2020December 31, 2019AmountPercentageAmountPercentageAccounts receivable$475,450%$419,220%Inventory745,300%673,200%Total assets2,570,000%3,060,000%Brief Exercise 18-12 a1-a2The following data were taken from the income statements of Mydorf Company.20202019Sales revenue$6,310,000$6,120,000Beginning inventory970,000910,000Purchases4,391,5004,666,000Ending inventory1,040,000970,000Compute for each year the inventory turnover. (Round answers to 1 decimal place, e.g. 1.6.)20202019Inventory turnover times timesCompute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.)20202019Days in inventory days daysExercise 18-02Trayer Corporation has income from continuing operations of $254,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes).1.An unrealized loss of $77,000 on available-for-sale securities.2.A gain of $27,000 on the discontinuance of a division (comprised of a $15,000 loss from operations and a $42,000 gain on disposal).Assume all items are subject to income taxes at a 20% tax rate.Prepare a statement of comprehensive income, beginning with income from continuing operations. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) TRAYER CORPORATIONPartial Statement of Comprehensive Income$$$$Exercise 18-03 (Video)Here is financial information for Glitter Inc.December 31, 2020December 31, 2019Current assets$123,000$100,000Plant assets (net)395,300335,000Current liabilities89,27973,000Long-term liabilities130,59288,000Common stock, $1 par166,959117,000Retained earnings131,470157,000Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GLITTER INC.Condensed Balance SheetsDecember 31Increase or (Decrease)20202019AmountPercentageAssetsCurrent assets$123,000$100,000$ %Plant assets (net)395,300335,000 % Total assets$518,300$435,000$ %LiabilitiesCurrent liabilities$89,279$73,000$ %Long-term liabilities130,59288,000 % Total liabilities219,871161,000 %Stockholders' EquityCommon stock, $1 par166,959117,000 %Retained earnings131,470157,000 % Total stockholders' equity298,429274,000 % Total liabilities and stockholders' equity$518,300$435,000$ %Exercise 18-06Here are the comparative income statements of Delaney Corporation.Delaney CorporationComparative Income StatementsFor the Years Ended December 3120202019Net sales$611,000$506,000Cost of goods sold487,578424,028Gross profit123,42281,972Operating expenses86,76248,576Net income$ 36,660$ 33,396(a)Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2019 as a base. (Show the amounts of increase or decrease.) (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) DELANEY CORPORATIONCondensed Income StatementsIncrease or (Decrease)During 202020202019AmountPercentageNet sales$611,000$506,000$ %Cost of goods sold487,578424,028 %Gross profit123,42281,972 %Operating expenses86,76248,576 %Net income$36,660$33,396$ %(b)Prepare a vertical analysis of the income statement data for Delaney Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.3%.) DELANEY CORPORATIONCondensed Income Statements20202019AmountPercentAmountPercentNet sales$611,000 %$506,000 %Cost of goods sold487,578 %424,028 %Gross profit123,422 %81,972 %Operating expenses86,762 %48,576 %Net income$ 36,660 %$ 33,396 %Problem 18-05A aSuppose selected financial data of Target and Wal-Mart for 2020 are presented here (in millions).TargetCorporationWal-MartStores, Inc.Income Statement Data for YearNet sales$65,357$408,214Cost of goods sold45,583304,657Selling and administrative expenses15,10179,607Interest expense7072,065Other income (expense)(94)(411)Income tax expense1,3847,139Net income$ 2,488$ 14,335Balance Sheet Data (End of Year)Current assets$18,424$48,331Noncurrent assets26,109122,375Total assets$44,533$170,706Current liabilities$11,327$55,561Long-term debt17,85944,089Total stockholders’ equity15,34771,056Total liabilities and stockholders’ equity$44,533$170,706Beginning-of-Year BalancesTotal assets$44,106$163,429Total stockholders’ equity13,71265,682Current liabilities10,51255,390Total liabilities30,39497,747Other DataAverage net accounts receivable$7,525$4,025Average inventory6,94233,836Net cash provided by operating activities5,88126,249Capital expenditures1,72912,184Dividends4964,217(a)For each company, compute the following ratios. (Enter free cash flow in millions. Round Current ratio to 2 decimal places, e.g. 1.67. Round Debt to assets ratio to 0 decimal places, e.g. 18 or 18%. Round all other answers to 1 decimal place, e.g. 1.6, or 1.6%. Use 365 days for calculation.) RatioTargetWal-Mart(1)Current ratio:1:1(2)Accounts receivable turnovertimestimes(3)Average collection perioddaysdays(4)Inventory turnovertimestimes(5)Days in inventorydaysdays(6)Profit margin%%(7)Asset turnovertimestimes(8)Return on assets%%(9)Return on common stockholders’ equity%%(10)Debt to assets ratio%%(11)Times interest earnedtimestimes(12)Free cash flow$million$million

InstructionsInstructions: Find an old family photo to restore. Enhance the photo with at least five to seven different elements that you've learned Then, create a magazine cover page using that photo with some creative idea behind it utilizing at least one other photo for a background. You will upload three photos minimum. The original family photo, background photo and the final cover page. You must submit all of your assignments as a .JPG or .PNG. file. Submitting the .PSD file is based on the need of the instructor.Once this is completed, you will complete a minimum of a four page write up (not including the title page or reference page): 12 font Times New Roman, double spaced paper in APA Style format describing the following:Purpose of the magazine. You must identify a valid purpose as if this magazine will be published for the public.Identify five to seven tools used and any challenges encountered.Describe the tools applied and why selected.Describe the layers applied and why selected.Examine the differences, the benefits and the limitations of the different image file types.Discuss the purpose and usage of smart objects, layers and vectors in editing, also differentiate between a raster image and a vector image; also detail the layer concepts of hiding, linking, and setting layer styles.Outline the different processes to enhance images including sharpness, color, contrast, hue, brightness and resolution.Evaluate the image processing capabilities such as feathering, filtering and burning.Describe the process for performing advanced selection using masks, channels, refine edge, and defringing.Detail the capabilities of Adobe Photoshop as a tool for editing and restoring digital images, also describe the process for enhance digital images by manipulating sharpness, color, contrast, hue, brightness and resolution.Writing Assessment RubricExemplary4Accomplished3Developing2Beginning1Points AvailableCommentsIntroductionThe introduction clearly states the main topic and previews the structure of the paper.The introduction clearly states the main topic but only partially previews the structure of the paper.The introduction states the main topic, but does not preview the structure of the paper.There is no clear introduction of the main topic or structure of the paper.x 1.25Paragraph ConstructionAll paragraphs include introductory sentence, explanations or details, and concluding sentence.Most paragraphs include introductory sentence, explanations or details, and concluding sentence.Paragraphs included related information but were typically not constructed well.Paragraphing structure was not clear and sentences were not typically related within the paragraphs.x 1.25SequencingDetails are placed in a logical order and correspond to the structure presented in the introduction.Details are sometimes logically placed, but do not correspond to the structure presented in the introduction.Some details are not in a logical or expected order, and this distracts the reader.Many details are not in a logical or expected order. There is little sense that the writing is organized.x 1.25TransitionsA variety of thoughtful transitions are used. They clearly show how ideas are connected.Transitions clearly show how ideas are connected, but there is little variety.Some transitions work well; but connections between other ideas are fuzzy.The transitions between ideas are unclear or nonexistent.x 1.25Supportive ResearchSupporting research studies and/or reports are research-based and accurately reported.Supporting research studies and/or reports are not accurately reported.Research studies and/or reports do not support the discussion.Research studies and/or reports are limited and/or inaccurately reported.x 1.25Quality of InformationInformation clearly relates to the main topic. It includes several supporting details and/or examples.Information clearly relates to the main topic. It provides 1-2 supporting details and/or examples.Information clearly relates to the main topic. No details and/or examples are given.Information has little or nothing to do with the main topic.x 1.25Conclusion/RecommendationsThe conclusion effectively summarizes the discussion and provides at least two recommendations for further research.The conclusion summarizes the paper but provides only one recommendation for further research.The conclusion partially summarizes the discussion, but provides no recommendations.The conclusion is poorly constructed.x 1.25SourcesCitationsReferencesAll sources (information and graphics) are accurately documented in APA.One source is not documented in APA format.Two sources are not documented in APA format.More than two sources are not documented in APA format.x 1.25MechanicsNo grammatical, spelling or punctuation errors.One grammatical, spelling or punctuation errors.Two grammatical, spelling, or punctuation errors.More than two grammatical, spelling, or punctuation errors.TimelinessAll late submissions have a 10 point (10%) deduction.5Create a magazine cover page with a restored family photo with at least five to seven different elements learned utilizing at least one photo for background.Student effectively created a magazine cover page with a restored family photo with at least five to seven different elements learned utilizing at least one photo for background.Student partially created a magazine cover page with a restored family photo with at least five to seven different elements learned utilizing at least one photo for background.The student provided limited and meaningless points to creating a magazine cover page with a restored family photo with at least five to seven different elements learned utilizing at least one photo for background.Student failed to create a magazine cover page with a restored family photo with at least five to seven different elements learned utilizing at least one photo for background.x12.5Total100You must submit all of your assignments as a .JPG or .PNG. file. Submitting the .PSD file is based on the need of the instructor.