Tomkung Corporations 2010 income statements are presented in the following spreadsheet. Required Construct a spreadsheet to conduct

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Tomkung Corporation€™s 2010 income statements are presented in the following spreadsheet.
Required
Construct a spreadsheet to conduct horizontal analysis of the income statements for 2010 and 2009.

Percentage Change 3.9% 2010 $1,025,000 795,000 230,000 200.000 30.000 2009 $987.000 Sales 732,000 255,000 Cost of Goods

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Fundamental Managerial Accounting Concepts

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Authors: Edmonds, Tsay, olds

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Question Posted: Dec 07, 2011 06:51 AM

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Tomkung Corporations 2010 income statements are presented in the following spreadsheet. Required Construct a spreadsheet to conduct

Question:

Percentage Change 3.9% 2010 $1,025,000 795,000 230,000 200.000 30.000 2009 $987.000 Sales 732,000 255,000 Cost of Goods Sold 8.6% -9.8% Gross Margin Operating Expenses Income before Taxes 205.000 50,000 -2.4% -40.0% -41.5% -39.2% Income Taxes 10.000 $20,000 17.100 $32,900 Net Income

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