Horizontal analysis Two income statements for Paragon Company follow: Paragon Company Income Statements For the Years Ended December 31 20Υ7 20Υ6 Fees earned $1,785,000 $1,500,000 Expenses (1,293,750) (1,125,000) Net income $491,250 $375,000 Prepare a horizontal analysis of Paragon Company's income statements. If required, round your percentage to the nearest who number. Paragon Company Income Statements For the Years Ended December 31 Increase/(Decrease) 20Υ7 20Υ6 Amount Percent Fees earned $1,785,000 $1,500,000 $ % Expenses (1,293,750) (1,125,000) % Net income $491,250 $375,000 $ %

Horizontal analysis Two income statements for Paragon Company follow: Paragon Company Income Statements For the Years Ended December 31 20Υ7 20Υ6 Fees earned $1,785,000 $1,500,000 Expenses (1,293,750) (1,125,000) Net income $491,250 $375,000 Prepare a horizontal analysis of Paragon Company's income statements. If required, round your percentage to the nearest who number. Paragon Company Income Statements For the Years Ended December 31 Increase/(Decrease) 20Υ7 20Υ6 Amount Percent Fees earned $1,785,000 $1,500,000 $ % Expenses (1,293,750) (1,125,000) % Net income $491,250 $375,000 $ %

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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