Suppose the following historical data is from the consolidated income statements filed by a media corporation.*chart attached*A): Prepare a horizontal analysis of the net income comparing 2012 and 2013. (Round percentages to one decimal place.)(how to answer chart is attached) Consolidated Statement of IncomeYear ended December 31201320122011(in millions, except per share data)Revenue$64,655$62,571$55,842Costs and Expenses:Programming and productionOther operating and administrativeAdvertising, marketing and promotion19,66819,93016,59618,58217,83416,6464,9674,8324,243Depreciation6,2526,1516,040Amortization1,6151,6491,59651,08450,39645,121Operating Income13,57112,17510,721Other Income (Expense):Interest expense(2,576)(2,520)(2,505)Investment income (loss), net574220159Equity in net income (losses) of investees, net(88)(366)(35)(133)(2,514)960Other income (expense), net774(2,456)(566)Income before income taxes11,11511,6098,207Income tax expense(3,982)(3,743)(3,050)Net income7,1337,8665,157Net (income) loss attributable to noncontrollinginterests andredeemable subsidiary preferred stock(321)(1,661)(997)Net Income Attributable to Corporation$6,812$6,205$4,160Basic earnings per common share attributable to CorporationCorporation shareholders$2.60$2.32$1.51Diluted earnings per common share attributable to CorporationCorporation shareholders$2.56$2.28$1.50Dividends declared per common share$0.78$0.65$0.45 (a) Prepare a horizantal analysis of the net income comparing 2012 and 2013. (Round percentages to one decimal place.)Consolidated Statement of IncomeIncrease (Decrease)Year ended December 3120132012AmountPercent(in millions)RevenueCosts and Expenses:Programming and ProductionOther operating and administrativeAdvertising, Marketing, and PromotionDepreciationAmortizationOperating IncomeOther Income (Expense):Interest ExpenseInvestment Income (Loss), NetEquity in Net Income (Losses) of Investees, NetOther Income (Expense), NetIncome before Income TaxesIncome Tax ExpenseNet IncomeNet (Income) Loss Attributable to Noncontrolling Interestsand Redeemable Subsidiary Preferred StockNet Income Attributable to Corporation

Horizontal analysis of income is a comparative income statement where the income statement of…

Answered: Prepare a horizontal analysis of the…

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Prepare a horizontal analysis of the net income comparing 2012 and 2013. (Round percentages to one decimal place.)

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 20P

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