Complete the following horizontal analysis of a comparative income statement. Express percents to the nearest tenth of
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Alonzo's Auto Parts Comparative Income Statement For years ending June 30, 2013 and 2014 Increase (decrease) Amount 2014 2013 Percent Kevenue: Gross sales Sales returns and allowances Net sales Cost of goods sold: Beginning inventory, July l Purchases Ending inventory, June 30 Cost of goods sold Gross profit from sales Operating expenses: Salary Insurance Utilities Rent Depreciation Total operating expenses Net income $291,707 $275,873 5,895 6,821 35,892 157,213 32,516 32,587 146,999 30,013 42,000 3,800 1,986 3,600 4,000 40,000 3,800 2,097 3,300 4,500
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Net sales for 2014 239873 12815 227058 Cost of goods sold for 2014 27814 123213 24482 126545 Gross p...View the full answer
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Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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