Income statements for Rundle Company for Year 3 and Year 4 follow:RUNDLE COMPANYIncome StatementaSalesCost of gooda soldSelling expensesAdministrative expensesInterent expenseTotal expensesIncome before taxesIncome taxes expenseYear 4$201,100142,00021,20012,9003,000$179,10022,0006,900$15,100Year 3$181,100*120,00019,20014,9005,000$159, 10022,0003,100$ 18,900Net incomeRequireda. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4.b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year,Complete this question by entering your answers in the tabs below.Required ARequired B RUNDLE COMPANYHorizontal Analysis of Income StatementsPercentage Changeover Year 3Sales%Cost of goods soldSelling expensesAdministrative expensesInterest expenseTotal expensesIncome before taxesIncome taxes expenseNet income (loss)%RUNDLE COMPANYVertical Analysis of Income StatementsPercentage ofSales Year 4Percentage ofSales Year 3Sales%%Cost of goods soldSelling expensesAdministrative expensesInterest expenseTotal expensesIncome before taxesIncome taxes expenseNet incomeResulrad ABenuired B

Name: Income statements for Rundle Company for Year 3 and Year 4 follow:RUN
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Description: Income statements for Rundle Company for Year 3 and Year 4 follow:RUNDLE COMPANYIncome StatementaSalesCost of gooda soldSelling expensesAdministrative expensesInterent expenseTotal expensesIncome before taxesIncome taxes expenseYear 4$201,100142,000

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Income statemepts for Rundle Company for Year 3 and Year 4 follow. RUNDLE COMPANY Income Statementa Year 4 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes $201,100 142,000 21,200 12,900 3,000 $179,100 22,000 6,900 $ 15,100 Year 3 $181,100 *120.000 19,200 14,900 5,000 $159,100 22,000 3,100 $ 18,900 Income taxes expense Net income Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year,

Income statemepts for Rundle Company for Year 3 and Year 4 follow. RUNDLE COMPANY Income Statementa Year 4 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes $201,100 142,000 21,200 12,900 3,000 $179,100 22,000 6,900 $ 15,100 Year 3 $181,100 *120.000 19,200 14,900 5,000 $159,100 22,000 3,100 $ 18,900 Income taxes expense Net income Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year,

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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