Fill out income statement please and thank you Prepare a horizontal analysis of both the balance sheet and income statement for Year 4 and Year 3.Complete this question by entering your answers in the tabs below.Balance SheetPrepare a horizontal analysis of the income statement for Year 4 and Year 3.Note: Negative answers should be Indicated by a minus sign. Round your answers to 1 decimal place. (l.e., .234 should beentered as 23.4).RevenuesIncomeStatementSales (net)Other revenuesTotal revenuesExpenses172FRANKLIN COMPANYHorizontal Analysis of Income StatementsYear 4Cost of goods soldSelling, general, and administrative expensesInterest expenseIncome tax expenseTotal expensesNet income (loss)$$< Balance Sheet230,3009,900240,200118,10053,3007,50021,700200,600Year 3$ 211,5006,900218,40039,600 $102,00049,3006,70020,700178,70039,700% ChangePrevATAU%%1 of 15Next >

Horizontal analysis is the analysis which is used by the entity to compare the financial data for…

Prepare a horizontal analysis of the income statement for Year 4 and Year 3. Note: Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (l.e., .234 should be entered as 23.4). Revenues Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses FRANKLIN COMPANY Horizontal Analysis of Income Statements Year 4 Net income (loss) $ 230,300 $ 211,500 9,900 6,900 240,200 218,400 $ < Balance Sheet 118,100 53,300 7,500 21,700 200,600 Year 3 39,600 $ 102,000 49,300 6,700 20,700 178,700 39,700 % Change % %

Prepare a horizontal analysis of the income statement for Year 4 and Year 3. Note: Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (l.e., .234 should be entered as 23.4). Revenues Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses FRANKLIN COMPANY Horizontal Analysis of Income Statements Year 4 Net income (loss) $ 230,300 $ 211,500 9,900 6,900 240,200 218,400 $ < Balance Sheet 118,100 53,300 7,500 21,700 200,600 Year 3 39,600 $ 102,000 49,300 6,700 20,700 178,700 39,700 % Change % %

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.7E

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Perform a vertical analysis for the balance sheet entry "Accounts Payable" given below (as a %). (Round your answer to one decimal place.)
Required Prepare a vertical analysis of both the balance sheets and income statements for Year 4 and Year 3. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a vertical analysis of an income statements for Year 4 and Year 3. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) ALLENDALE COMPANY Vertical Analysis of Income Statements Year 4 Year 3 Amount % Total Amount % Total Revenues Sales (net) $ 230,000 100.00 % $ 210,000 100.00 % Other revenues 8,000 5,000 Total revenues 238,000 215,000 Expenses Cost of goods sold 120,000 103,000 Selling, general, and administrative expense 55,000 50,000 Interest expense 8,000 7,200 Income tax expense 23,000 22,000 Total expenses 206,000 182,200 Net income $ 32,000 % $ 32,800 %
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