Required: Prepare a horizontal analysis for 2025 using 2024 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year $ $ 2025 19,100,000 $ 13,064,400 6,035,600 1,680,800 1,069,600 267,400 1,585,300 1,432,500 515,700 916,800 $ 2024 15,800,000 7,189,000 8,611,000 1,264,000 1,069,600 347,600 5,929,800 2,085,600 3,844,200 Increase (Decrease) Amount %

Required: Prepare a horizontal analysis for 2025 using 2024 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year $ $ 2025 19,100,000 $ 13,064,400 6,035,600 1,680,800 1,069,600 267,400 1,585,300 1,432,500 515,700 916,800 $ 2024 15,800,000 7,189,000 8,611,000 1,264,000 1,069,600 347,600 5,929,800 2,085,600 3,844,200 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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