Question
Comparative Income Statements Consider the following income statement data from the Ross Company: 2020 2019 Sales revenue $1,100,000 $945,000 Cost of goods sold 705,600
Comparative Income Statements Consider the following income statement data from the Ross Company: 2020 2019 Sales revenue $1,100,000 $945,000 Cost of goods sold 705,600 599,850 Selling expenses 220,500 212,850 Administrative expenses 126,000 107,500 Income tax expense 16,380 11,610 Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. (Round percentages to one decimal.) Ross Company Comparative Income Statements 2020 2019 Increase (Decrease) Percent Change Sales revenue $ $ $ Cost of goods sold Gross profit on sales Operating expenses Selling expenses Administrative expenses Total Income before income taxes Income tax expense Net income $ $
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