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1. 2 . The income statements for Anything Tennis for the years ending December 31, 2018 and 2017, are provided below. Required: 1. Complete the
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The income statements for Anything Tennis for the years ending December 31, 2018 and 2017, are provided below. Required: 1. Complete the "Amount" and columns to be used in a horizontal analysis of the income statements for Anything Tennis. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) ANYTHING TENNIS Income Statements For the Years Ended December 31 Increase (Decrease) Amount 2018 2017 S 3500,000 s 2620,000 Net sales 2,150,000 1,380,000 Cost of goods sold 1,240,000 Gross profit 1,350,000 810,000 630,000 operating expenses 540,000 operating income 610,000 6,000 10,000 Other income (expense) 616,000 550,000 Income before tax 140,000 100,000 Income tax expense s 450,000 476000 Net income
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