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Workshop 5 Problems Student Q Search Sheet Data Review View OBOU Home Insert Page Layout Formulas Calibri (Body) - 12 - A Paste B IU $ 112 x for 2 E Wrap Text A A A General $ - % I 28 Insert * Delete Format * Merge & Center ) Conditional Formet Formatting as Table Cell Styles 2. Sort & Filter L M N O P Q R 2 Concept - Comparing performance of various components of a business unit with the past. 3 Use the table to the right to assist in the calculation of the % change 5 Directions: Perform a Horizontal Analysis of the income statements based on the information provided below Change in 2018 compared to 2017 150,000 % Change 75.0% $ Daffy and Friends Income Statement 2018 11 Sales $ 350,000 12 Cost of Goods Sold 200,000 13 Selling Expenses 35,000 14 Administrative Expenses 22,000 15 Interest Expense 8,500 16 Total Expenses 265,500 17 Income Before Taxes 84,500 18 Income Tax Expense 3,000 19 Net Income 81.500 2017 200,000 124,000 20,000 18.000 8,000 170,000 30,000 3,000 27.000 Daffy and Friends Horizontal Analysis of Income Statements Percent Change Over 2018 26 Sales 75% 27 Cost of Goods Sold 28 Selling Expense 29 Administrative Expenses 30 Interest Expense 31 Total Expense 32 Income Before Taxes 33 Income Taxes Expense 34 Net Income loss) Problem 5.1 Problem 5.2 Problem 5.3 Problem 5.4 Problem 5.5 Problem 5.6 + Ready B - - + 100%