Adams Cor Required a. Compute the percentage changes in Adams Corporation's income statement components between the two years. Note: Negative amounts should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 shou as 23.4). Sales Cost of goods sold Gross margin Operating expenses Income before taxes Income taxes Net income (loss) ADAMS CORPORATION Income Statements Year 3 $ 1,298,000 798,270 499,730 304,500 195,230 Year 2 $1,001,000 600,600 400,400 200,000 200,400 52,900 147,500 61,500 $ 133,730 $ Percentage Change % %

Adams Cor Required a. Compute the percentage changes in Adams Corporation's income statement components between the two years. Note: Negative amounts should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 shou as 23.4). Sales Cost of goods sold Gross margin Operating expenses Income before taxes Income taxes Net income (loss) ADAMS CORPORATION Income Statements Year 3 $ 1,298,000 798,270 499,730 304,500 195,230 Year 2 $1,001,000 600,600 400,400 200,000 200,400 52,900 147,500 61,500 $ 133,730 $ Percentage Change % %

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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