1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y2 as the base year. Enter decreeses as negative amounts and negative percentages. Round percentage changes to one decimal place. Greyhound Technology Company Comparative Income Statement For the Years Ended December 31, 20Y3 and 20Y2 Increase (Decrease) Increase (Decrease) Amount 20Υ3 20Y2 Percent Sales $739,806 $646,000 S Cost of goods sold (533,000) (410,000) Gross profit $206,806 $236,000 Seling expenses $(74,250) $(54,000) Administrative expenses (43,180) 4,00) Total operating expenses 117,430) $(88,000) Income from operations $89.376 $148.000 3,351 2,700 Other income Income before income tax $92,727 $150,700 S (26,000) (45,200) Income tax expense $66,727 S105,500 Net income
1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y2 as the base year. Enter decreeses as negative amounts and negative percentages. Round percentage changes to one decimal place. Greyhound Technology Company Comparative Income Statement For the Years Ended December 31, 20Y3 and 20Y2 Increase (Decrease) Increase (Decrease) Amount 20Υ3 20Y2 Percent Sales $739,806 $646,000 S Cost of goods sold (533,000) (410,000) Gross profit $206,806 $236,000 Seling expenses $(74,250) $(54,000) Administrative expenses (43,180) 4,00) Total operating expenses 117,430) $(88,000) Income from operations $89.376 $148.000 3,351 2,700 Other income Income before income tax $92,727 $150,700 S (26,000) (45,200) Income tax expense $66,727 S105,500 Net income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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