{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T17:02:02-04:00", "answer_date": "2024-05-26 17:02:02", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1749789", "url": "\/study-help\/questions\/horizontal-analysis-of-income-statement-for-2012-mcdade-company-reported-1749789", "question_creation_date_js": "2024-05-26T17:02:02-04:00", "question_creation_date": "May 26, 2024 05:02 PM", "meta_title": "[Solved] Horizontal Analysis of Income Statement F | SolutionInn", "meta_description": "Answer of - Horizontal Analysis of Income Statement For 2012, McDade Company reported a decline in net income. At the end of the y | SolutionInn", "meta_keywords": "horizontal,analysis,income,statement,2012,mcdade,company,reported,decline,net,end,year", "question_title_h1": " Horizontal Analysis of Income Statement For 2012, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the", "question_title": " Horizontal Analysis of Income Statement For 2012, McDade Company reported a", "question_title_for_js_snippet": "Horizontal Analysis of Income Statement For 2012, McDade Company reported a decline in net income At the end of the year, T Burrows, the president, is presented with the following condensed comparative income statement McDade Company Comparative Income Statement For the Years Ended December 31, 2012 and 2011 Sales Cost of merchandise sold Gross profit Selling expenses Adminstrative expenses 2012 2011 $707,141 $617,000 507,000 390,0001 $200,141 $227,000 $71,500 $52,000 41,910 33,000 $85,000 $142,000 3,100 25,200 $64,711 2,000 $144,600 43 400 $101,200 Total operating expenses Income from operations Other revenue Income before income tax expense $113,410 $86,731 Income tax expense Net income Required 1 Prepare a comparative income statement with horizontal analysis for the two year period, using 2011 as the base year Round percentages to one decimal place Use the minus sign te indicate a decrease in the Difference ames McDade Company Comparative Income Statement For the Years Ended December 31, 2012 and 201 Difference Difference Amount Percent 2012 2011", "question_description": "\"image\"image", "transcribed_text": "Horizontal Analysis of Income Statement For 2012, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: McDade Company Comparative Income Statement For the Years Ended December 31, 2012 and 2011 Sales Cost of merchandise sold Gross profit Selling expenses Adminstrative expenses 2012 2011 $707,141 $617,000 507,000 390,0001 $200,141 $227,000 $71,500 $52,000 41,910 33,000 $85,000 $142,000 3,100 25,200 $64,711 2,000 $144,600 43.400 $101,200 Total operating expenses Income from operations Other revenue Income before income tax expense $113,410 $86,731 Income tax expense Net income Required 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2011 as the base year Round percentages to one decimal place. Use the minus sign te indicate a decrease in the \"Difference\" ames McDade Company Comparative Income Statement For the Years Ended December 31, 2012 and 201 Difference Difference -Amount Percent 2012 2011", "related_book": { "title": "Financial Accounting in an Economic Context", "isbn": "9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292", "edition": "8th Edition", "authors": "Jamie Pratt", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/61.jpg", "uri": "\/textbooks\/financial-accounting-in-an-economic-context-8th-edition-61", "see_more_uri": "" }, "free_related_book": { "isbn": "B0CFCVYN3V", "uri": "\/textbooks\/accounting-ledger-book-b0cfcvyn3v-121821", "name": "Accounting Ledger Book", "edition": "" }, "question_posted": "2024-05-26 17:02:02", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/articles-and-links-httpswwwaboutamazoncom-httpswwwthevergecominterface20204121201162amazondeliverydelayscoronavirusworkerstrikes-httpswwwwashingtonpostcomtechnology20200330workerstrikeinstacartamazonwholefoods-httpswwwtheguardiancomtechnology2019oct17amazonwarehouseworkerdeaths-httpswwwtheatlanticcomtechnologyarchive201911amazonwarehousereportsshowworkerinjuries602530-use-the-663426", "description": "1. 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