Analysis Inc Stmt

Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).)

ALLENDALE COMPANY
Horizontal Analysis of Income Statements
	2019	2018	Percentage Change
Revenues
Sales (net)	$230,000	$210,000	)	%
Other revenues	8,000	5,000
Total revenues	238,000	215,000
Expenses
Cost of goods sold	120,000	103,000
Selling, general, and administrative expenses	55,000	50,000
Interest expense	8,000	7,200
Income tax expense	23,000	22,000
Total expenses	206,000	182,200
Net income (loss)	$32,000	$32,800		%