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MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 431,000 $ 372,350 Expenses: Cost of Goods Sold 203,850 186,000 Selling and Administrative Expenses 99,000 93,250 Other Expenses 9,000 4,650 Total Expenses 311,850 283,900 Net Income $ 119,150 $ 88,450

MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 431,000 $ 372,350 Expenses: Cost of Goods Sold 203,850 186,000 Selling and Administrative Expenses 99,000 93,250 Other Expenses 9,000 4,650 Total Expenses 311,850 283,900 Net Income $ 119,150 $ 88,450

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.6P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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Performing horizontal analysis—income statement

Data for Mulberry Designs, Inc. follow:

Requirements

  1. Prepare a horizontal analysis of the comparative income statement of Mulberry Designs, Inc. Round percentage changes to one decimal place.
  2. Why did 2018 net income increase by a higher percentage than net sales revenue?
MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 431,000 $ 372,350 Expenses: Cost of Goods Sold 203,850 186,000 Selling and Administrative Expenses 99,000 93,250 Other Expenses 9,000 4,650 Total Expenses 311,850 283,900 Net Income $ 119,150 $ 88,450
Transcribed Image Text:MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 431,000 $ 372,350 Expenses: Cost of Goods Sold 203,850 186,000 Selling and Administrative Expenses 99,000 93,250 Other Expenses 9,000 4,650 Total Expenses 311,850 283,900 Net Income $ 119,150 $ 88,450
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