Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) ALLENDALE COMPANY Horizontal Analysis of Income Statements Year 4 Year 3 % Change Revenues $ 230,000 $ 210,000 8,000 238,000 Sales (net) % Other revenues 5,000 Total revenues 215,000 Expenses 120,000 55,000 8,000 Cost of goods sold 103,000 Selling, general, and administrative expenses 50,000 Interest expense 7,200 Income tax expense 23,000 22,000 206,000 32,000 $ 182,200 32,800 Total expenses Net income (loss) $ %

Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) ALLENDALE COMPANY Horizontal Analysis of Income Statements Year 4 Year 3 % Change Revenues $ 230,000 $ 210,000 8,000 238,000 Sales (net) % Other revenues 5,000 Total revenues 215,000 Expenses 120,000 55,000 8,000 Cost of goods sold 103,000 Selling, general, and administrative expenses 50,000 Interest expense 7,200 Income tax expense 23,000 22,000 206,000 32,000 $ 182,200 32,800 Total expenses Net income (loss) $ %

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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