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please help me fill in the charts for the below two questions Fill in the missing values in the income statement below. Then, complete a
please help me fill in the charts for the below two questions
- Fill in the missing values in the income statement below. Then, complete a vertical analysis and a horizontal analysis of the information.
ABC Brownie Stop
Comparative Income Statement
Years ended 9/30/2018 & 9/30/2019
| 2019 | 2019% | 2018 | 2018% | Difference ($) | Difference (%) |
Net Sales | $9,300 | 100% | $8,500 | 100% |
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Cost of Goods Sold | $4,500 |
| $3,800 |
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Gross Profit |
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Operating Expenses | $2,600 |
| $2,400 |
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Income before taxes |
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Taxes | $1,100 |
| $1,100 |
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Net Income |
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- The Bennington Rescue Squad purchases a new lift chair for $23,000. It is expected to last 10 years and have a salvage value of $1,500. Show a depreciation schedule for the first 3 years only using the straight line method.
End of Year | Book Value Beginning of Year | Depreciation | Accumulated Deprecation | Book Value End of Year |
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2 |
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3 |
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