comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate a decrease in the "In - equired, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Increase/ Increase/ (Decrease) (Decrease) 20Υ2 20Υ1 Amount Percent Sales $483,672 $408,000 % Cost of goods sold (358,800) (260,000) Gross profit $124,872 $148,000 Selling expenses $(50,150) $(34,000) Administrative expenses (29,520) (22,000) Total operating expenses $(79,670) $(56,000) Operating income $45,202 $92,000 Other revenue 2,166 1,700 Income before income tax expense $47,368 $93,700 Income tax expense (13,300) (28,100) Net income $34,068 $65,600 20x1 to 20x2 Sales ha ve however the cost of goods sold bas rate tha
comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate a decrease in the "In - equired, round percentages to one decimal place. Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 Increase/ Increase/ (Decrease) (Decrease) 20Υ2 20Υ1 Amount Percent Sales $483,672 $408,000 % Cost of goods sold (358,800) (260,000) Gross profit $124,872 $148,000 Selling expenses $(50,150) $(34,000) Administrative expenses (29,520) (22,000) Total operating expenses $(79,670) $(56,000) Operating income $45,202 $92,000 Other revenue 2,166 1,700 Income before income tax expense $47,368 $93,700 Income tax expense (13,300) (28,100) Net income $34,068 $65,600 20x1 to 20x2 Sales ha ve however the cost of goods sold bas rate tha
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 1PA
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