Current Attempt in Progress Here are the comparative income statements of Oriole Corporation. ORIOLE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $632,300 $544,800 Cost of goods sold 456,600 415,500 Gross Profit 175,700 129,300 Operating expenses 74,100 44,500 Net income $ 101,600 $ 84,800 (a) Prepare a horizontal analysis of the income statement data for Oriole Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) ORIOLE CORPORATION Comparative Income Statement choose the accounting period For the Years Ended December 31For the Month Ended December 31December 31 Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $632,300 $544,800 $enter a dollar amount enter percentages rounded to 1 decimal place % Cost of goods sold 456,600 415,500 enter a dollar amount enter percentages rounded to 1 decimal place % Gross Profit 175,700 129,300 enter a dollar amount enter percentages rounded to 1 decimal place % Operating expenses 74,100 44,500 enter a dollar amount enter percentages rounded to 1 decimal place % Net income $ 101,600 $ 84,800 $enter a dollar amount enter percentages rounded to 1 decimal place

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 74E

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Here are the comparative income statements of Oriole Corporation.

ORIOLE CORPORATION Comparative Income Statement For the Years Ended December 31

	2022	2021
Net sales	$632,300	$544,800
Cost of goods sold	456,600	415,500
Gross Profit	175,700	129,300
Operating expenses	74,100	44,500
Net income	$ 101,600	$ 84,800

(a)

Prepare a horizontal analysis of the income statement data for Oriole Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)

ORIOLE CORPORATION Comparative Income Statement choose the accounting period For the Years Ended December 31For the Month Ended December 31December 31
			Increase or (Decrease) During 2022
	2022	2021	Amount	Percentage
Net sales	$632,300	$544,800	$enter a dollar amount	enter percentages rounded to 1 decimal place	%
Cost of goods sold	456,600	415,500	enter a dollar amount	enter percentages rounded to 1 decimal place	%
Gross Profit	175,700	129,300	enter a dollar amount	enter percentages rounded to 1 decimal place	%
Operating expenses	74,100	44,500	enter a dollar amount	enter percentages rounded to 1 decimal place	%
Net income	$ 101,600	$ 84,800	$enter a dollar amount	enter percentages rounded to 1 decimal place	%

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