Following is the condensed comparative income statement of the Central Electric Corporation:

Instructions 1. Express the income statement data in trend percentages.
2. Comment on any significant relationships revealed by the percentages. Round off to the nearest tenth of a percent (one decimal place).

Transcribed Image Text:

Central Electric Corporation Comparative Income Statement For Years Ended December 31, 19x6, 19x7, 19x8 (thousands of dollars) 19x6 19x7 19x8 Sales (net) Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses General Expenses Total Operating Expenses Income Before Income Tax Income Tax Expense Net Income $930000 $1020000 $1140000 660000 744000 844500 $270000 $ 276 000 $ 295500 $139500 $ 14 13 00 S 158100 915 00 93000 93000 $23 1000 $ 23 4300 S 251100 $ 39000||$ 14000 $ 25000||$ 4 17 00 S 44400 14300 274 00 S 15600 28 800