<\/p>
PQR Corp's income statement for the past three years is as follows:<\/p>
| Item<\/th> | Year 1<\/th> | Year 2<\/th> | Year 3<\/th><\/tr><\/thead> |
|---|---|---|---|
| Revenue<\/td> | $500,000<\/td> | $600,000<\/td> | $700,000<\/td><\/tr> |
| Cost of Goods Sold<\/td> | $300,000<\/td> | $350,000<\/td> | $400,000<\/td><\/tr> |
| Gross Profit<\/td> | $200,000<\/td> | $250,000<\/td> | $300,000<\/td><\/tr> |
| Operating Expenses<\/td> | $100,000<\/td> | $120,000<\/td> | $140,000<\/td><\/tr> |
| Net Income<\/td> | $100,000<\/td> | $130,000<\/td> | $160,000<\/td><\/tr><\/tbody><\/table> Perform horizontal analysis on the income statement and identify any trends or changes over the three years. <\/p><\/li><\/ul>", "transcribed_text": "", "related_book": { "title": "Entrepreneurial Finance", "isbn": "538478152, 978-0538478151", "edition": "4th edition", "authors": "J . chris leach, Ronald w. melicher", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/151.jpg", "uri": "\/textbooks\/entrepreneurial-finance-4th-edition-151", "see_more_uri": "\/textbooks\/business-management-leadership-18" }, "free_related_book": { "isbn": "B0CCCGPR1X", "uri": "\/textbooks\/how-to-efficiently-lose-weight-using-acxion-fentermina-pills-1st-edition-979-8853035942-265009", "name": "How To Efficiently Lose Weight Using Acxion Fentermina Pills", "edition": "1st Edition" }, "question_posted": "2024-06-05 06:52:17", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-highest-and-lowest-recorded-air-temperatures-in-the-world", "description": "The highest and lowest recorded air temperatures in the world are, respectively, 58 oC (Libya, 1922) and 89 oC (Antarctica, 1983). 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