X E15-13 (similar to) Question Data for Micatin Designs, Inc. follow: (Click the icon to view the data.) Read the requirements Requirement 1. Prepare a horizontal analysis of the comparative income statement of Micatin Designs, Inc. Round percentage changes to one decimal plac the percentages to one decimal place, XX%. Use a minus sign or parentheses to indicate a decrease.) Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 Increase (Decrease) 2018 2017 Percentage Amount Net Sales Revenue $ 432,550 $ 373,000 $ 59,550 16.0 % Expenses: Cost of Goods Sold 200,000 187 12.450 6.6% 6.4 % Selling and Administrative Expenses 6,000 100,000 7,450 94,000 6,850 600 Other Expenses % 307,450 Total Expenses 288,400 19.050 6.6 $ 125,100 $ 84,600 $ 40,500 Net Income 96 Enter any number in the edit fields and then click Check Answer. 1 part Clear All Final Check remaining Copyright 2020 Pearson Education Inc. All rights reserved. Terms of Use | Privacy Policy. Permissions Contact Us 99+ Read the requirements. Requirement 1. Prepare a horizontal analysis of the comparative income statement of Micatin Designs, Inc. Round percentage changes to one decimal place. (Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 Increase (Decrease) Amount Percentage 2018 2017 Net Sales Revenue 432,550 $ 373,000 $ 59,550 16.0 % Expenses: Cost of Goods Sold Selling and Administrative Expenses 12,450 6.6 % 200,000 100,000 7,450 187,550 94,000 6,850 6,000 6.4 % Other Expenses 600 % 307,450 19,050 288,400 6.6 Total Expenses > % 125,100 $ Net Income 40,500 84,600 $ % 49 AM 1/2020 Enter any number in the edit fields and then click Check Answer. ? U. UJUTTUU JIJIUL PUCH Case.) Micatin Designs, Inc. Comparative Income Statement i Requirements en 1. Prepare a horizontal analysis of the comparative income statement of Micatin Designs, Inc. Round percentage changes to one decimal place. 2. Why did 2018 net income increase by a higher percentage than net sales revenue? st ng Print Done a $ 125,100 $ ncome 40,500 84,600 $ equirement ac. Round per X%. Use an - X igns, Data Table te, Micatin Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 se) tage et Sales Rev 432,550 $ 373,000 0 % Net Sales Revenue Expenses: kpenses: Sost of Good Cost of Goods Sold 200,000 187,550 6 % Selling and Selling and Administrative Expenses 4 % 100,000 7,450 94,000 6,850 Other Expen Other Expenses % 307.450 Total Expenses 288,400 Total Expens % $ 84,600 125,100 $ COM Net Income et Income % Print Done