Question
Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages (rounded to one decimal place). Fill
Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages (rounded to one decimal place).
Fill in the blanks:
| Increase (Decrease) | ||||
| 2019 over 2018 | ||||
| 2019 | 2018 | Amount | Percentage | |
| Income Statement | ||||
| Sales Revenue | $ 233,000 | $ 194,000 | $ 39,000 | % |
| Cost of Goods Sold | 134,000 | 117,000 | 14.5% | |
| Gross Profit | 99,000 | 77,000 | 22,000 | % |
| Operating Expenses | 41,500 | 35,500 | 6,000 | 16.9% |
| Interest Expense | 4,000 | 3,000 | 1,000 | 33.3% |
| Income before Income Tax Expense | 53,500 | 38,500 | 39.0% | |
| Income Tax Expense (30%) | 16,050 | 11,550 | 4,500 | % |
| Net Income | $ 37,450 | $ 26,950 | $ 10,500 | 39.0% |
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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
