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 % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Fill out income statement please and thank you
Transcribed Image Text:Prepare a horizontal analysis of both the balance sheet and income statement for Year 4 and Year 3.
Complete this question by entering your answers in the tabs below.
Balance Sheet
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
Income
Statement
Sales (net)
Other revenues
Total revenues
Expenses
172
FRANKLIN COMPANY
Horizontal Analysis of Income Statements
Year 4
Cost of goods sold
Selling, general, and administrative expenses
Interest expense
Income tax expense
Total expenses
Net income (loss)
$
$
< Balance Sheet
230,300
9,900
240,200
118,100
53,300
7,500
21,700
200,600
Year 3
$ 211,500
6,900
218,400
39,600 $
102,000
49,300
6,700
20,700
178,700
39,700
% Change
Prev
ATAU
%
%
1 of 15
Next >
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education