You have the following information about Al- Farah Company: 2020: Net Sales 11,396.9, Gross profit 6,205.0 Selling expenses 3,920.8, Administrative expenses 69.2, interest expenses 136.0, income tax 727.6 2019: Net Sales 10,584.2, Cost of Goods Sold 4,747.2, Selling expenses? Administrative expenses 90.3, Income from operation 2122.1, interest expenses 119.7, and income tax 675.3 Required: prepare an income statement and conduct a horizontal analysis Sol: A worksheet for the compared income statement For the period ending 12/31/2020 2020 2019 Variances Net Sales Cost of Goods Sold Gross profit Operating Expenses:- as a jluan Selling expenses Administrative expenses Total Operating Expenses |Income from operation Other expenses and losses:- Interest expenses Income before income tax Income tax Net income

You have the following information about Al- Farah Company: 2020: Net Sales 11,396.9, Gross profit 6,205.0 Selling expenses 3,920.8, Administrative expenses 69.2, interest expenses 136.0, income tax 727.6 2019: Net Sales 10,584.2, Cost of Goods Sold 4,747.2, Selling expenses? Administrative expenses 90.3, Income from operation 2122.1, interest expenses 119.7, and income tax 675.3 Required: prepare an income statement and conduct a horizontal analysis Sol: A worksheet for the compared income statement For the period ending 12/31/2020 2020 2019 Variances Net Sales Cost of Goods Sold Gross profit Operating Expenses:- as a jluan Selling expenses Administrative expenses Total Operating Expenses |Income from operation Other expenses and losses:- Interest expenses Income before income tax Income tax Net income

Name: You have the following information about Al- Farah Company:2020:Net S
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Description: You have the following information about Al- Farah Company:2020:Net Sales 11,396.9, Gross profit 6,205.0 Selling expenses 3,920.8, Administrativeexpenses 69.2, interest expenses 136.0, income tax 727.62019:Net Sales 10,584.2, Cost of Goods Sold 4,74

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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