Following is the condensed comparative income statement of the Seaborn Manufacturing 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).
Check Figure Net Income After Income Tax, 19x7, 100.9%

Transcribed Image Text:

Seahorn Manufacturing Corporation Comparative Income Statement For Years Ended December 31, 19x6, 19x7, 19x8 (thousands of dollars) 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 19x6 19x7 $ 1600000| $ 1760000 1140000 1280000 $ 460000 19x8 $ 2000000 1500000 $ 480000 S 500000 S 236800 156000 S 392800 $ 67200 22800 $ 44400 $ SA S 255400 S 268800 156000 157200 411400 S S 68600 SS $ 426000 74000 23800 44800 25300 48700