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Question 5 Points possible: 0.25 pt* 20-5 pts Income statements for Red Rally Pharmacy for the years ending December 31, 2017, and 2018, are presented
Question 5 Points possible: 0.25 pt* 20-5 pts Income statements for Red Rally Pharmacy for the years ending December 31, 2017, and 2018, are presented below Red Rally Pharmacy Income Statements For the Years Ended December 31 Increase (Decrease 2018 2017 Amount Sales revenue Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tarx Income tax expense Net income $369,728 $246,994 $122,734 $49,294 $73,440 $3,159 $70,281 $19,072 $51,209 $348,800 $239,800 $109,000 $49,000 $60,000 $3,000 $57,000 $16,000 S41,000 Part (a) Perform trend analysis by completing the "Amount" and "%" columns above. Use the early year as the base year Part (i) On a percentage basis, which income statement item realized the largest relative increase? (ii) On a percentage basis, which income statement item realized the largest relative decrease? Next
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