accounting

#5: Analyze the following data and perform a horizontal analysis of each of following Income Statement items in the spaces provided. Round your answers to the nearest percentage (5 pts) Net sales Cost of goods sold Selling expenses Salary expenses Federal income taxes 2016 $1,756,000 1,156,400 350,000 123,400 53,000 2017 Percentage $1,910,000 1,429,600 286,800 194,800 59,600 -24 28 Assets: Cash, Accounts Receivable, Supplies, Prepaid Rent, Delivery Truck, Furniture 25 Liabilities: Accounts Payable, Unearned Revenue, Notes Payable 26 Equity: Retained Earnings, Common Stock, Paid in Excess of Par Common Delivery Revenue, Salaries Expens 27 Delivery Revenue, Utilities Expense, Salaries Expense, Supplies Expense Record the following transactions for Peterson's Delivery Service using the accounts listed above. 29 List all Debit accounts/amounts first when recording your transaction. 30 1. 1000 shares of Common stock with a par value of $5 per share were issued for $8 per share cash 32 Account Title Debit Credit 33 7. Pa 31 34 35 36