Complete the horizontal analysis below. Use the name of the company you belong to in your iLS Activity. Round off your answers to the nearest hundredths. Name: Income Statement for the years ending December 31, 201X and December 31, 201Y 2015 2016 Annual Percentage Growth 2015-2016 Sales 475,000 500,000 1. Cost of Goods Sold 265,000 269,000 2. Gross Profit 210,000 231,000 3. Wages 154,000 163,000 4. Repairs 5,800 4,150 5. Rent 13,000 12,000 6. Taxes 16,940 17,930 7. Office Expenses 1,023 587 8. Total Expenses 190,763 197,667 9. Net Income 19,237 33,333 10.
- Complete the horizontal analysis below. Use the name of the company you belong to in your iLS Activity. Round off your answers to the nearest hundredths.
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Name: Income Statement for the years ending December 31, 201X and December 31, 201Y |
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2015 |
2016 |
Annual Percentage Growth 2015-2016 |
|
|
Sales |
475,000 |
500,000 |
1. |
|
|
Cost of Goods Sold |
265,000 |
269,000 |
2. |
|
|
Gross Profit |
210,000 |
231,000 |
3. |
|
|
Wages |
154,000 |
163,000 |
4. |
|
|
Repairs |
5,800 |
4,150 |
5. |
|
|
Rent |
13,000 |
12,000 |
6. |
|
|
Taxes |
16,940 |
17,930 |
7. |
|
|
Office Expenses |
1,023 |
587 |
8. |
|
|
Total Expenses |
190,763 |
197,667 |
9. |
|
|
Net Income |
19,237 |
33,333 |
10. |
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