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The comparative income statements of O'Neil Music Co.? follow: Prepare a horizontal analysis of the comparative income statements of O'Neil Music Co. Round percentage changes
The comparative income statements of O'Neil Music Co.? follow:
Prepare a horizontal analysis of the comparative income statements of O'Neil Music Co. Round percentage changes to the nearest? one-tenth percent? (three decimal?places). ?(Use a minus sign or parentheses for decreases. Round percentage changes to the nearest? one-tenth percent,? X.X%.) |
O'Neil Music Co. Comparative Income Statements Years Ended December 31, 2014 and 2013 2014 2013 844,000 934,000 Total revenue Expenses 404,000 400,000 Cost of goods sold Selling and general expenses 234,000 268,000 9,300 12,000 Interest expense 84,000 86,000 Income tax expense 731,300 766,000 Total expenses 112,700 168,000 Net income
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