Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

im not sure if my answers are correct (the last two columns) The income statements for Anything Tennis for the years ending December 31, 2021

im not sure if my answers are correct (the last two columns) image text in transcribed
The income statements for Anything Tennis for the years ending December 31, 2021 and 2020, are provided below. Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of the income statements for Anything Tennis. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) ANYTHING TENNIS Income Statements 1 Increase (Decrease) Amount $ 34 $ $ Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income 2021 3,470,000 2,140,000 1,330,000 805,000 525,000 9,800 534,800 9 9,500 435,300 2020 2,600,000 1,375,000 1,225,000 626,000 599,000 5,900 604,900 139,000 465,900 BBSBED& SING L 1 $ $ $

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

LO4 List options for development needs analyses.

Answered: 1 week ago