Question
Rate of Change Analyses Teicher Company presents the following condensed comparative income statements for 2020, 2019, and 2018: For Years Ended December 31, 2020
Rate of Change Analyses Teicher Company presents the following condensed comparative income statements for 2020, 2019, and 2018: For Years Ended December 31, 2020 2019 2018 Sales (net) $120,000 $100,000 $85,000 Cost of goods sold (72,000) (55,000) (45,000) Gross profit $48,000 $45,000 $40,000 Operating expenses (22,000) (20,000) (18,000) Operating income $26,000 $25,000 $22,000 Other items: Dividend revenue 400 500 200 Interest expense (1,200) (1,000) (500) Income before income taxes $25,200 $24,500 $21,700 Income tax expense (8,200) (8,000) (6,000) Net income $17,000 $16,500 $15,700 Number of common shares 6,000 6,000 5,000 Earnings per share $2.83 $2.75 $3.14 Required: Next Level Prepare rate of change analyses for Teicher for 2019 and 2020 using year-to-year growth rates. Round Earnings per Share computation to two decimal places. If required, round all percentage changes to one decimal place. If an amount is zero, enter "0", do not leave the amount box blank
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