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The income statements for Urban Outfits, Inc. are presented below: Urban Outfits, Inc. Income Statements Year Ended December 31 Current Year Prior Year Sales revenue
The income statements for Urban Outfits, Inc. are presented below:
Urban Outfits, Inc. | |||||||
Income Statements | |||||||
Year Ended December 31 | |||||||
Current Year | Prior Year | ||||||
Sales revenue | $ | 815,059 | $ | 754,127 | |||
Cost of goods sold | 407,176 | 377,091 | |||||
Gross profit | 407,883 | 377,036 | |||||
Operating and other expenses | 142,409 | 130,644 | |||||
Interest expense | 7,800 | 18,800 | |||||
Income tax expense | 49,200 | 47,500 | |||||
Net income | $ | 208,474 | $ | 180,092 | |||
Prepare a horizontal analysis of the income statement above. (Enter your answers to the nearest whole percent (i.e., enter 0.12 as 12.))
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