Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Yes Horizontal Analysis of the Income StatementIncome statement data for Winthrop Company for two recent years ended December 31, are as follows:Current YearSalesCost of goods soldGross profitSelling expensesAdministrative expensesTotal operating expensesIncome before income taxIncome tax expensesNet income$832,000718,200$113,800$33,04030,240$63,280$50,52020,200$30,320Comparative Income StatementFor the Years Ended December 31Previous Yeara. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with theprevious year. If required, round to one decimal place.Winthrop CompanyyearAmount$650,000570,000$80,000$28,00024,000$52,000$28,00011,200$16,800Current Previous Increase Increaseyear (Decrease) (Decrease)Amount AmountPercent Income tax expensesNet incomeSalesCost of goods soldGross profitSelling expensesa. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with theprevious year. If required, round to one decimal place.Winthrop Company20,200$30,320Administrative expensesTotal operating expensesIncome before income taxIncome tax expenseNet incomeComparative Income StatementFor the Years Ended December 31Current Previous IncreaseyearAmount$832,000718,200Increaseyear (Decrease) (Decrease)Amount Amount Percent$650,000 $570,000$113,800$80,000 $$33,040$28,000 $30,24024,000$63,280$52,000$50,520$28,00020,20011,200$30,320 $16,800 $%%%%%%%11,200$16,800%%

HORIZONTAL ANALYSIS Horizontal Analysis is one of the importance analysis techniques of Financial…

Income tax expenses Net income Sales Cost of goods sold Gross profit Selling expenses a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company 20,200 $30,320 Administrative expenses Total operating expenses Income before income tax Income tax expense Net income Comparative Income Statement For the Years Ended December 31 Current Previous Increase year Amount $832,000 718,200 Increase year (Decrease) (Decrease) Amount Amount Percent $650,000 $ 570,000 $113,800 $80,000 $ $33,040 $28,000 $ 30,240 24,000 $63,280 $52,000 $50,520 $28,000 20,200 11,200 $30,320 $16,800 $ % % % % % % % 11,200 $16,800 % %

Income tax expenses Net income Sales Cost of goods sold Gross profit Selling expenses a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company 20,200 $30,320 Administrative expenses Total operating expenses Income before income tax Income tax expense Net income Comparative Income Statement For the Years Ended December 31 Current Previous Increase year Amount $832,000 718,200 Increase year (Decrease) (Decrease) Amount Amount Percent $650,000 $ 570,000 $113,800 $80,000 $ $33,040 $28,000 $ 30,240 24,000 $63,280 $52,000 $50,520 $28,000 20,200 11,200 $30,320 $16,800 $ % % % % % % % 11,200 $16,800 % %

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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Very important please be correct thank you
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