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The income statements for Anything Tennis for the years ending December 31, 2018 and 2017, are provided below Required 1. Complete the Amount and %
The income statements for Anything Tennis for the years ending December 31, 2018 and 2017, are provided below Required 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of the income statements for Anything Tennis. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) ANYTHING TENNIS Income Statements For the Years Ended December 31 Increase (Decrease) 2018 2017 Amount Net sales $ 3,500,000$2,620,000 1,380,000 1,240,000 630,000 610,000 6,000 616,000 140,000 $ 450,000$ 476,000 2,150,000 1,350,000 810,000 540,000 10,000 550,000 100,000 Cost of goods sold Gross proft Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income
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