Homecell File Home Insert Page Layout Review View Help Acrobat D12 f N H M 1 Prepare a horizontal analysis of the income statement for JoeMack Coffee Shop Inc. using 2019 as a base year. 3 2020 2 famount and percentage are a decrease show the numbers as negative, e.g.-55,000, -12.25% or (55,000), (12.25%). Round percentages to decimal places, e.g. 12%.) 2019 Difference Horizontal Analysis 4 Sales $485,625 $162,500 5 Cost of goods sold 222,694 208,125 6 Gross profit $262,931 $251,375 7 Operating expenses 8 Salaries and wages expense 147,979 146,350 9 Depreciation expense 17,600 9,100 10 Other operating expense 48,186 42,925 11 Total operating expense 213,765 198,375 12 Income from operations 49,166 56,000 13 Other expenses 14 Interest expense 413 0 15 Loss on disposal of plant 2,500 0 16 Total other expenses 2.913 0 17 Income before income tax 46,253 56,000 18 Income tax expense 9,251 14,000 19 Net Income 37,002 42,000 20 21 22 23 24 15 6 Q1 Q2-Financial Statements Q2-a Q2-b 02 03 04 05 eady Type here to search Home coke Formulas Data Review Page Layout View Home Help Acrobat File D12 N 1 Prepare a horizontal analysis of the income statement for JoeMack Coffee Shop Inc. using 2019 as a base year. 2 of amount and percentage are a decrease show the numbers as negative, eg.-55,000,- 12.25% or (55,000), (12.25%). Round percentages to o decimal places, e.g. 12%.) 3 2020 2019 Difference Horizontal Analysis 4 sales $485,625 $462,500 5 Cost of goods sold 222.69 208,125 6 Gross profit $262,931 $254,375 7 Operating expenses & Salaries and wages expense 147,979 146,350 9 Depreciation expense 17,600 9,100 10 Other operating expense 48,186 42,925 Total operating expense 213,765 198,375 12 Income from operations 49,166 56,000 13 Other expenses 14 Interest expense 413 0 15 Loss on disposal of plant 2,500 0 16 Total other expenses 2,913 0 17 Income before income tax 46,253 56,000 18 Income tax expense 14,000 19 Net income 37,002 42,000 20 21 22 23 24 25 26 27 01 02-Financial Statements 02-a Q2.b 02- 04 05 Type here to search