Prepare a horizontal analysis of the income statement for Year 4 and Year 3. Note: Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (l.e., .234 should be entered as 23.4). Revenues Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses FRANKLIN COMPANY Horizontal Analysis of Income Statements Year 4 Net income (loss) $ 230,300 $ 211,500 9,900 6,900 240,200 218,400 $ < Balance Sheet 118,100 53,300 7,500 21,700 200,600 Year 3 39,600 $ 102,000 49,300 6,700 20,700 178,700 39,700 % Change % %
Prepare a horizontal analysis of the income statement for Year 4 and Year 3. Note: Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (l.e., .234 should be entered as 23.4). Revenues Sales (net) Other revenues Total revenues Expenses Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses FRANKLIN COMPANY Horizontal Analysis of Income Statements Year 4 Net income (loss) $ 230,300 $ 211,500 9,900 6,900 240,200 218,400 $ < Balance Sheet 118,100 53,300 7,500 21,700 200,600 Year 3 39,600 $ 102,000 49,300 6,700 20,700 178,700 39,700 % Change % %
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 3AP
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