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The income statements for Anything Outdoors for the years ending December 31, 2024 and 2023, are provided below. Required: 1. Complete the Amount and
The income statements for Anything Outdoors for the years ending December 31, 2024 and 2023, are provided below. Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of the income statements for Anything Outdoors. (Decreases should be indicated by a minus sign. Round your percentage answers to 1.decimal place.) ANYTHING OUTDOORS Income Statements For the Years Ended December 31 2024 2023 Net sales Cost of goods sold Gross profit $ 3,675,000 $ 2,760,000 2,220,000 1,415,000 1,455,000 1,345,000 Operating expenses 845,000 658,000 Operating income 610,000 687,000 Other income (expense) 11,400 6,700 Income before tax 621,400 693,700 Income tax expense 103,500 147,000 Net income $ 517,900 $ 546,700 Increase (Decrease) Amount %
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