Question
Using the following ecome statements, perform the caluclations needed for horizontal analyses. (Decreases should be indicated by a minus sign. Round percentage values to 1
Using the following ecome statements, perform the caluclations needed for horizontal analyses. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place. I have all of them right except the last four in Percentage. Lockey fencing Corporation, Income; Statements; For the years Ended December 31. Change in : Het Sales; Current $112,000 Previous $81,000 Dollars; percentage 2. Cost of Goods Sold; Current 64,000. previous 48,000 Gross Profit, Current 48,000, Previous 33,000; Selling, General, and Administrative Expenses 6,600; Previous, 3,300; Income from Operations, Current 41,400 Previous, 29,700; Interest Expense, 3,600 Previous 4,950; Income before Income Tax, 37,800 Previous 24,750; Income Tax Expense, Current 11,340 Previous 7,425, Net Income, Current $26,460 Previous $17325.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started