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Income tax expenses Net income Sales Cost of goods sold Gross profit Selling expenses a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company 20,200 $30,320 Administrative expenses Total operating expenses Income before income tax Income tax expense Net income Comparative Income Statement For the Years Ended December 31 Current Previous Increase year Amount $832,000 718,200 Increase year (Decrease) (Decrease) Amount Amount Percent $650,000 $ 570,000 $113,800 $80,000 $ $33,040 $28,000 $ 30,240 24,000 $63,280 $52,000 $50,520 $28,000 20,200 11,200 $30,320 $16,800 $ % % % % % % % 11,200 $16,800 % %

Income tax expenses Net income Sales Cost of goods sold Gross profit Selling expenses a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company 20,200 $30,320 Administrative expenses Total operating expenses Income before income tax Income tax expense Net income Comparative Income Statement For the Years Ended December 31 Current Previous Increase year Amount $832,000 718,200 Increase year (Decrease) (Decrease) Amount Amount Percent $650,000 $ 570,000 $113,800 $80,000 $ $33,040 $28,000 $ 30,240 24,000 $63,280 $52,000 $50,520 $28,000 20,200 11,200 $30,320 $16,800 $ % % % % % % % 11,200 $16,800 % %

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 5E
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Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Yes
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income tax Income tax expenses Net income $832,000 718,200 $113,800 $33,040 30,240 $63,280 $50,520 20,200 $30,320 Comparative Income Statement For the Years Ended December 31 Previous Year a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company year Amount $650,000 570,000 $80,000 $28,000 24,000 $52,000 $28,000 11,200 $16,800 Current Previous Increase Increase year (Decrease) (Decrease) Amount Amount Percent
Transcribed Image Text:Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income tax Income tax expenses Net income $832,000 718,200 $113,800 $33,040 30,240 $63,280 $50,520 20,200 $30,320 Comparative Income Statement For the Years Ended December 31 Previous Year a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company year Amount $650,000 570,000 $80,000 $28,000 24,000 $52,000 $28,000 11,200 $16,800 Current Previous Increase Increase year (Decrease) (Decrease) Amount Amount Percent
Income tax expenses Net income Sales Cost of goods sold Gross profit Selling expenses a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company 20,200 $30,320 Administrative expenses Total operating expenses Income before income tax Income tax expense Net income Comparative Income Statement For the Years Ended December 31 Current Previous Increase year Amount $832,000 718,200 Increase year (Decrease) (Decrease) Amount Amount Percent $650,000 $ 570,000 $113,800 $80,000 $ $33,040 $28,000 $ 30,240 24,000 $63,280 $52,000 $50,520 $28,000 20,200 11,200 $30,320 $16,800 $ % % % % % % % 11,200 $16,800 % %
Transcribed Image Text:Income tax expenses Net income Sales Cost of goods sold Gross profit Selling expenses a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company 20,200 $30,320 Administrative expenses Total operating expenses Income before income tax Income tax expense Net income Comparative Income Statement For the Years Ended December 31 Current Previous Increase year Amount $832,000 718,200 Increase year (Decrease) (Decrease) Amount Amount Percent $650,000 $ 570,000 $113,800 $80,000 $ $33,040 $28,000 $ 30,240 24,000 $63,280 $52,000 $50,520 $28,000 20,200 11,200 $30,320 $16,800 $ % % % % % % % 11,200 $16,800 % %
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