Problem 12-2B (Algo) Perform horizontal analysis (LO12-2) The income statements for Galaxy Tennis for the years ending December 31, 2024 and 2023, are provided below. Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of Galaxy Tennis income statement. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income GALAXY TENNIS Income Statements. For the Years Ended December 31 2024 2023 $ 6,090,000 $ 6,210,000 2,830,000 2,910,000 3,260,000 3,300,000 1,500,000 1,382,000 1,760,000 1,918,000 58,000 81,000 1,999,000 433,000 1,818,000 386,000 $ 1,432,000 $1,566,000 Increase (Decrease) Amount %

Problem 12-2B (Algo) Perform horizontal analysis (LO12-2) The income statements for Galaxy Tennis for the years ending December 31, 2024 and 2023, are provided below. Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of Galaxy Tennis income statement. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income GALAXY TENNIS Income Statements. For the Years Ended December 31 2024 2023 $ 6,090,000 $ 6,210,000 2,830,000 2,910,000 3,260,000 3,300,000 1,500,000 1,382,000 1,760,000 1,918,000 58,000 81,000 1,999,000 433,000 1,818,000 386,000 $ 1,432,000 $1,566,000 Increase (Decrease) Amount %

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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