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The income statements for Galaxy Tennis for the years ending December 31, 2021 and 2020, are provided below, Required: 1. Complete the Amount and %
The income statements for Galaxy Tennis for the years ending December 31, 2021 and 2020, are provided below, Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of Galaxy Tennis Income statement. (Decreoses should be indicated by o minus sign. Round your percentage answers to 1 decimal place.) Nel sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income GALAXY TENNIS Income Statements For the Years Ended December 31 Increase (Decrease) 2021 2020 Amount $ 6,000,000 $ 6,150,000 $ (150,000) (25) 2.800.000 2 895,000 (95000) (33) 3.200.000 3.255.000 (55.000) 1,485.000 1370.000 115,000 77 1.715,000 1 885,000 (170,000) 99 55.000 75.000 (20.000) 363 1770.000 1.960,000 (190,000) 380 000 430.000 (50000) 1.390.000s 1,530 000 $ (140.000) 100
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