FA12

Comparative Income Statements

Consider the following income statement data from the Ross Company:

	Current Year	Prior Year
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
			Increase	Percent
	Current Year	Prior Year	(Decrease)	Change
Sales revenue	Answer	Answer	Answer	Answer
Cost of goods sold	Answer	Answer	Answer	Answer
Gross profit on sales	Answer	Answer	Answer	Answer
Operating expenses
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
Income tax expense	Answer	Answer	Answer	Answer
Net income	Answer	Answer	Answer	Answer