Enrichment Activity 7-2. Horizontal AnalysisComplete the horizontal analysis and interpretation of Financial Performance ofRobero Sumaleng's Merchandising: (Use percentages in two decimal places.)Rober Sumaleng's MerchandisingStatement of Comprehensive IncomeFor the years ended December 3120212020Inc/(Dec)AmountPercentSales942,50040,750901,750508,200393,550875,40042,221833,179421,900411,279Less: Sales DiscountsNet SalesPLess: Cost of Goods SoldGross ProfitLess: Operating ExpensesDistribution Costs92,450108,200200,650192,90057,870135,030115,320118,300Administrative ExpensesTotal Operating Expenses PNet Inconme before Tax233,620177,65953,298124,361PLess: Income TaxNet Income after TaxPWrite your interpretation and analysis in no less than four sentences.

Horizontal Analysis of Financial Statement Horizontal analysis is an approach used to analyze…

Answered: Complete the horizontal analysis and…

Business

Accounting

Complete the horizontal analysis and interpretation Robero Sumaleng's Merchandising: (Use percentages

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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Enrichment Activity 7-2. Horizontal Analysis
Complete the horizontal analysis and interpretation of Financial Performance of
Robero Sumaleng's Merchandising: (Use percentages in two decimal places.)
Rober Sumaleng's Merchandising
Statement of Comprehensive Income
For the years ended December 31
2021
2020
Inc/(Dec)
Amount
Percent
Sales
942,500
40,750
901,750
508,200
393,550
875,400
42,221
833,179
421,900
411,279
Less: Sales Discounts
Net Sales
P
Less: Cost of Goods Sold
Gross Profit
Less: Operating Expenses
Distribution Costs
92,450
108,200
200,650
192,900
57,870
135,030
115,320
118,300
Administrative Expenses
Total Operating Expenses P
Net Inconme before Tax
233,620
177,659
53,298
124,361
P
Less: Income Tax
Net Income after Tax
P
Write your interpretation and analysis in no less than four sentences.

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