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1 Operating data for Navarro Corporation are presented below. 2017 $750,000 465,000 105,000 60,000 36,000 84.000 Net sales Cost of goods sold Selling expenses Administrative expenses Exercise #4 Income tax expense Net income 2016 $600,000 390,000 66,000 54,000 27,000 63.000 Instructions: a. Prepare a horizontal analysis of the income statement data for Navarro Corporation using 2016 as a base. b. Prepare a vertical analysis of the income statement data for Navarro Corporation in columnar form for both years.

1 Operating data for Navarro Corporation are presented below. 2017 $750,000 465,000 105,000 60,000 36,000 84.000 Net sales Cost of goods sold Selling expenses Administrative expenses Exercise #4 Income tax expense Net income 2016 $600,000 390,000 66,000 54,000 27,000 63.000 Instructions: a. Prepare a horizontal analysis of the income statement data for Navarro Corporation using 2016 as a base. b. Prepare a vertical analysis of the income statement data for Navarro Corporation in columnar form for both years.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Operating data for Navarro Corporation are presented below. 2017 $750,000 465,000 105,000 60,000 36,000 84.000 Net sales Cost of goods sold Selling expenses Exercise #4 Administrative expenses Income tax expense Net income 2016 $600,000 390,000 66,000 54,000 27,000 63.000 Instructions: a. Prepare a horizontal analysis of the income statement data for Navarro Corporation using 2016 as a base. b. Prepare a vertical analysis of the income statement data for Navarro Corporation in columnar form for both years.
Transcribed Image Text:Operating data for Navarro Corporation are presented below. 2017 $750,000 465,000 105,000 60,000 36,000 84.000 Net sales Cost of goods sold Selling expenses Exercise #4 Administrative expenses Income tax expense Net income 2016 $600,000 390,000 66,000 54,000 27,000 63.000 Instructions: a. Prepare a horizontal analysis of the income statement data for Navarro Corporation using 2016 as a base. b. Prepare a vertical analysis of the income statement data for Navarro Corporation in columnar form for both years.
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