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Problem 12-2A Perform horizontal analysis (L012-2) The income statements for Anything Tennis for the years ending December 31, 2021 and 2020. are provided below. Required:
Problem 12-2A Perform horizontal analysis (L012-2) 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.) Answer is complete but not entirely correct. ANYTHING TENNIS Income Statements For the Years Ended December 31 IS Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax 55.7 X 2021 $ 3,500,000 2,150,000 1,350,000 810.000 540.000 Increase (Decrease) Amount % 880.000 33.5 % 770,000 110.000 8.9 180.000 28.5 X (70.000) (11.4)
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