Suppose the following historical data is from the consolidated income statements filed by a media corporation.*chart attached*A: Prepare a horizontal analysis of the net income comparing 2012 and 2013. (Round percentages to one decimal place.) *Chart attached* Consolidated Statement of IncomeYear ended December 31201320122011(in millions, except per share data)$64,655 $62,571 $55,842RevenueCosts and Expenses:Programming and productionOther operating and administrative19,66818,58219,93017,83416,59616,646Advertising, marketing and promotionDepreciation4,9674,8324,2436,2526,1516,040Amortization1,6491,5961,61551,08450,39645,121Operating Income13,57112,17510,721Other Income (Expense):Interest expenseInvestment income (loss), netEquity in net income (losses) of investees, netOther income (expense), net(2,576)574(2,505)(2,520)220159(8)(35)960774(366)(133)(2,514)(2,456)(566)Income before income taxes11,11511,6098,207Income tax expense(3,743)7,866(3,050)(3,982)7,133Net income5,157Net (income) loss attributable to noncontrolling interests andredeemable subsidiary preferred stock(321) (1,661)(997)Net Income Attributable to Corporation$6,812S6,205$4,160Basic earnings per common share attributable to CorporationCorporation sharcholders$2.60$2.32$1.51Diluted earnings per common share attributable to CorporationCorporation sharcholdersDividends declared per common share$2.56$2.28$1.50$0.78$0.65$0.45 Dividends declared per common share$0.78$0.65$0.45(a) Prepare a horizontal analysis of the net Income comparing 2012 and 2013. (Round percentages to one dedmal placeConsolidated Statement of IncomeIncrease (Decrease)Year ended December 3120132012AmountPercent(in millions)RevenueCosts and Expenses:Programming and ProductionOther operating and administrativeAdvertising, Marketing, and PromotionDepreciationAmortizationOperating IncomeOther Income (Expense):Interest ExpenseInvestment Income (Loss), NetEquity in Net Income (Losses) of Investees, NetOther Income (Expense), NetIncome before Income TaxesIncome Tax ExpenseNet IncomeNet (Income) Loss Attributable to Noncontrolling Interestsand Redeemable Subsidiary Preferred StockNet Income Attributable to Corporation

The income statement shows how much profit or loss an organization generated during a reporting…

Prepare a horizontal analysis of the net income comparing 2012 and 2013. (Round percentages to one decimal place.) *Chart attached*

Prepare a horizontal analysis of the net income comparing 2012 and 2013. (Round percentages to one decimal place.) Chart attached

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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