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Income statement for XYZ business for the period ending 31st of December 2010 INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) Telephone & internet Water & electricity Property rates and taxes Insurance 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Advertising costs Fuel Stationery Bank charges / interest paid Tax expense 654 3,414 NET PROFIT 30,820

Income statement for XYZ business for the period ending 31st of December 2010 INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) Telephone & internet Water & electricity Property rates and taxes Insurance 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Advertising costs Fuel Stationery Bank charges / interest paid Tax expense 654 3,414 NET PROFIT 30,820

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 5E: Multiple-Step and Single-Step In coin Statements The following items were derived from Gold...
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Can u please give the horizontal analysis for this and interpret the results.

Income statement for XYZ business for the period ending 31st of December 2010 $ INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Telephone & internet Water & electricity Property rates and taxes Insurance Advertising costs Fuel Stationery Bank charges / interest paid Тах еxpense 654 3,414 NET PROFIT 30,820
Transcribed Image Text:Income statement for XYZ business for the period ending 31st of December 2010 $ INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Telephone & internet Water & electricity Property rates and taxes Insurance Advertising costs Fuel Stationery Bank charges / interest paid Тах еxpense 654 3,414 NET PROFIT 30,820
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