Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could you please explain how to do the horizontal income statement and balance sheet in excel? Thank you! Horizontal analysis of income statement (new) 2020

Could you please explain how to do the horizontal income statement and balance sheet in excel? Thank you! image text in transcribed
image text in transcribed
Horizontal analysis of income statement (new) 2020 (old) Increase (Decrease) 2019 Amount Percent 610,000 22,000 500,000 15,000 250,000 341,000 (new-old)/old Sales Sales returns and allowances Net Sales Cost of goods sold Gross Profit - Selling expenses Administrative expenses 2 Total operating expenses 33 Income from operations 4 Other income/expense ss Income before income tax 55 Income tax expense 57 Net Income 15,000 8,500 18,000 9,450 + 5,000 5,600 41,525 65,125 Horizontal analysis of balance sheet 50 2020 2010 32 Asseth 63 Current Assets Amount 533,000 177,500 470,000 50,000 Increase (Decrease) Amount Amount Percent 550,000 95,000 444,500 50,000 Long-term Investments Property, plant and equipment Intangible assets 55 Total Assets 9 Labilities Current liabilities Long-term liabilities 72 Total Habilities 243,000 200,000 210,000 100,000 Stockholders'Equity Preferred 6% stock Common stock, $10 par Retained earnings 7 Total stockholders' equity 150,000 500,000 137,500 200,000 450,000 179,500 Il 10 Total Liabilities and Equity 12

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

7 Understand and analyze classified financial statements.

Answered: 1 week ago