Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 12-2A Perform horizontal analysis (L012-2) The income stetements for Anything Tennis for the years ending December 31, 2018 and 2017, are provided below. Required:

image text in transcribed

Problem 12-2A Perform horizontal analysis (L012-2) The income stetements for Anything Tennis for the years ending December 31, 2018 and 2017, are provided below. Required: 1. Complete the "Amount" and "%. columns to be used in a horizontal analysis ot the income statements lor Anything Tennis. (D creases should b Indicated by a minus sign. Round your percentage answers to 1 dClmal place ANYTHING TENNIS Income Statements For the Years Ended December 31 Increase (Decrease) 2018 2017 Net seles S 3,575,000 2680,000 2,180 00D 1,395,00 Grose proht 1,395.c0D 1.285,000 Operating expenses 25.000 642,000 Operaling income 570,000 43,000 10,600 6,300 Other income (expense) Income brfre tax 580.800 649,300 Income lax expense 01,500 43.000 S 7B,100 50,300 Net income

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

Step: 3

blur-text-image

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

Auditing And Financial Management Federal Information System Controls Audit Manual

Authors: U.S. Government Accountability Office

1st Edition

1289168172, 978-1289168179

More Books

Students also viewed these Accounting questions