mpum progress For its fiscal year ending October 31, 2022, Bramble Corp.reports the following partial data. Income before income taxes Income tax expense (23% $527,000) Income from continuing operations Loss on discontinued operations Net income $639,000 121,210 517,790 133,300 $384,490 The loss on discontinued operations was comprised of a $58,400 loss from operations and a $74,900 loss from disposal. The income tax rate is 23% on all items. Prepare a correct partial income statement beginning with income before income taxes. BRAMBLE CORP. Partial Income Statement $ $ Current Attempt in Progress Here are the comparative condensed income statements of Cheyenne Corporation. CHEYENNE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 2021 $521,900 407,082 Net sales Cost of goods sold Gross Profit Operating expenses Net income $632,600 468,124 164,476 79,075 $ 85,401 114,818 46,971 $ 67,847 (a) Prepare a horizontal analysis of the income statement data for Cheyenne Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g.-55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) CHEYENNE CORPORATION Condensed Income Statements Increase or (Decrease) During 2022 Amount Percentage 2022 2021 Net sales $632,600 $521,900 $ % Cost of goods sold 468,124 407,082 % Gross Profit 164,476 114,818 % Operating expenses 79,075 46,971 % Net income $ 85,401 $ 67,847 $ % Here is financial information for Splish Brothers Inc. Current assets December 31, 2021 $ 94,700 353,800 December 31, 2022 $109,852 404,643 103,544 125,951 134,216 150,784 Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings 68,800 94,700 118,800 166,200 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) SPLISH BROTHERS INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2021 Amount Percentage 2022 Assets Current Assets $109,852 $94,700 $ % Plant assets (net) 404,643 353,800 % Total assets $514,495 $448,500 $ % Liabilities Current Liabilities $103,544 $68,800 $ % Long-term liabilities 125,951 94,700 % Total liabilities $229,495 $ 163,500 $ % Stockholders' Equity Common stock, $1 par 134,216 118,800 % Retained earnings 150,784 166,200 % 285,000 285,000 % Total stockholders' equity Total liabilities and stockholders' equity $514,495 $448,500 $ %
