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Chow Mo How

Horizontal analysis of income statement.

For $20Y2,$ Mcoade Company reported a decine in net income, At the end of the year, T$.$ Burrows, the president, is presented with the following condensed comparative income statement:

McDade Company

Comparative Income Statement

For the Years Ended December $31,20Y2$ and $20Y1$

Sales

Cost of goods sold

Gross proft

Selling expenses

Administrative expenses

Total operating expenses

Operating Income

Other revenue

Income before income tax expense

Income tox expense

Net income

$\backslash$table$[[20Y2,20Y1$