Question
Comparative Income Statements Consider the following income statement data from the Ross Company: 2013 2012 Sales revenue $532,000 $456,000 Cost of goods sold 300,000 270,000
Comparative Income Statements Consider the following income statement data from the Ross Company:
| 2013 | 2012 | |
|---|---|---|
| Sales revenue | $532,000 | $456,000 |
| Cost of goods sold | 300,000 | 270,000 |
| Selling expenses | 112,000 | 105,000 |
| Administrative expenses | 67,000 | 60,000 |
| Income tax expense | 14,800 | 11,400 |
Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. (Round to one decimal point.)
| ROSS COMPANY Comparative Income Statements | ||||
|---|---|---|---|---|
| 2013 | 2012 | Increase (Decrease) | Percent Change | |
| Sales Revenue | $Answer | $Answer | $Answer | Answer% |
| Cost of Goods Sold | Answer | Answer | Answer | Answer% |
| AnswerGross Profit on SalesOperating ExpensesIncome Tax ExpenseNet Income | Answer | Answer | Answer | Answer% |
| AnswerGross Profit on SalesOperating ExpensesIncome Tax ExpenseNet Income | ||||
| Selling Expenses | Answer | Answer | Answer | Answer% |
| Administrative Expenses | Answer | Answer | Answer | Answer% |
| Total | Answer | Answer | Answer | Answer% |
| Income before Income Taxes | Answer | Answer | Answer | Answer% |
| AnswerGross Profit on SalesOperating ExpensesIncome Tax ExpenseNet Income | Answer | Answer | Answer | Answer% |
| AnswerGross Profit on SalesOperating ExpensesIncome Tax ExpenseNet Income | $Answer | $Answer | $Answer | Answer% |
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Understanding And Conducting Information Systems Auditing
Authors: Arif Ahmed, Veena Hingarh
1st Edition
1118343743, 978-1118343746
