Hi there, I received only the part one and I don't have the part two can you please resubmit it to me thank you? Problems: Series AObj. 2PR 14-1A Horizontal analysis of income statementFor 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows,the president, is presented with the following condensed comparative income statement:V1. Sales, 12.0% increaseMcDade CompanyComparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1SHOW ME HOWEXCEL TEMPLATE20Υ220Υ1$ 15,000,000$ 16,800,000(11,500,000)$ 5,300,000$ (1,770,000)(1,220,000)$ (2,990,000)$ 2,310,000SalesCost of goods sold.Gross profitSelling expensesAdministrative expenses.(10,000,000)$ 5,000,000$ (1,500,000)(1,000,000)Total operating expenses$(2,500,000)$ 2,500,000Operating income.Other revenue256,950225,000Income before income tax expenseIncome tax expense...$ 2,566,950(1,413,000)$ 1,153,9502$2,725,000(1,500,000)$ 1,225,000Net incomeInstructions1. Prepare a comparative income statement with horizontal analysis for the two-year period, using20Y1 as the base year. Round percentages to one decimal place.2.To the extent the data permit, comment on the significant relationships revealed bythe horizontal analysis prepared in (1).

Horizontal analysis - Horizontal Analysis is part of the analysis in which individuals get the idea…

Problems: Series A Obj. 2 PR 14-1A Horizontal analysis of income statement For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: V1. Sales, 12.0% increase McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 SHOW ME HOW EXCEL TEMPLATE 20Y2 20Υ1 $ 16,800,000 (11,500,000) $ 5,300,000 $ (1,770,000) 000יוב1) $ (2,990,000) $ 2,310,000 Sales $ 15,000,000 Cost of goods sold. Gross profit. Selling expenses Administrative expenses. (10,000,000) $ 5,000,000 $ (1,500,000) (1,000,000) Total operating expenses $ (2,500,000) $ 2,500,000 Operating income. Other revenue ... 256,950 225,000 Income before income tax expense. $ 2,566,950 $ 2,725,000 (1,500,000) $ 1,225,000 Income tax expense (1,413,000) $ 1,153,950 Net income Instructions 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Round percentages to one decimal place. 2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).

Problems: Series A Obj. 2 PR 14-1A Horizontal analysis of income statement For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: V1. Sales, 12.0% increase McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 SHOW ME HOW EXCEL TEMPLATE 20Y2 20Υ1 $ 16,800,000 (11,500,000) $ 5,300,000 $ (1,770,000) 000יוב1) $ (2,990,000) $ 2,310,000 Sales $ 15,000,000 Cost of goods sold. Gross profit. Selling expenses Administrative expenses. (10,000,000) $ 5,000,000 $ (1,500,000) (1,000,000) Total operating expenses $ (2,500,000) $ 2,500,000 Operating income. Other revenue ... 256,950 225,000 Income before income tax expense. $ 2,566,950 $ 2,725,000 (1,500,000) $ 1,225,000 Income tax expense (1,413,000) $ 1,153,950 Net income Instructions 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Round percentages to one decimal place. 2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).

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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