Two income statements for Satterfield Company are shown below. Satterfield Company Income Statements For the Years Ended December 31 20Y1 20Y0 Fees earned $472,120 $370,000 Operating expenses 298,560 240,000 Net income $173,560 $130,000 Prepare a horizontal analysis of Satterfield Company income statements. Round percent answers to one decimal place. If required, use the minus sign to indicate a decrease in the amount and percentage columns. Satterfield Company Income Statements For the Years Ended December 31 20Y1 20Y0 Amount Increase/ (Decrease) Percent Increase/ (Decrease) Fees earned $472,120 $370,000 $fill in the blank 1 fill in the blank 2% Operating expenses 298,560 240,000 $fill in the blank 3 fill in the blank 4 Net income $173,560 $130,000 $fill in the blank 5 fill in the blank 6
Two income statements for Satterfield Company are shown below. Satterfield Company Income Statements For the Years Ended December 31 20Y1 20Y0 Fees earned $472,120 $370,000 Operating expenses 298,560 240,000 Net income $173,560 $130,000 Prepare a horizontal analysis of Satterfield Company income statements. Round percent answers to one decimal place. If required, use the minus sign to indicate a decrease in the amount and percentage columns. Satterfield Company Income Statements For the Years Ended December 31 20Y1 20Y0 Amount Increase/ (Decrease) Percent Increase/ (Decrease) Fees earned $472,120 $370,000 $fill in the blank 1 fill in the blank 2% Operating expenses 298,560 240,000 $fill in the blank 3 fill in the blank 4 Net income $173,560 $130,000 $fill in the blank 5 fill in the blank 6
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Two income statements for Satterfield Company are shown below.
| Satterfield Company Income Statements For the Years Ended December 31 |
||||
| 20Y1 | 20Y0 | |||
| Fees earned | $472,120 | $370,000 | ||
| Operating expenses | 298,560 | 240,000 | ||
| Net income | $173,560 | $130,000 |
Prepare a horizontal analysis of Satterfield Company income statements. Round percent answers to one decimal place. If required, use the minus sign to indicate a decrease in the amount and percentage columns.
| Satterfield Company | ||||
| Income Statements | ||||
| For the Years Ended December 31 | ||||
20Y1 |
20Y0 |
Amount Increase/ (Decrease) |
Percent Increase/ (Decrease) |
|
| Fees earned | $472,120 | $370,000 | $fill in the blank 1 | fill in the blank 2% |
| Operating expenses | 298,560 | 240,000 | $fill in the blank 3 | fill in the blank 4 |
| Net income | $173,560 | $130,000 | $fill in the blank 5 | fill in the blank 6 |
Expert Solution
Step 1 Introduction
The comparison in different year financial statement can be made on the basis of increase or decrease value and taking previous as the base year.
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