Horizontal analysis (trend analysis) percentages for Phoenix Companys sales revenue, cost of goods sold, and expenses are

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Horizontal analysis (trend analysis) percentages for Phoenix Company€™s sales revenue, cost of goods sold, and expenses are listed here.

Horizontal Analysis 2018 2020 2019 96.2% 101.0 104.8% Sales revenue Cost of goods sold Expenses 100.0% 98.0 100.0 105.6

Explain whether Phoenix€™s net income increased, decreased, or remained unchanged over the 3-year period.

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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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