Problems: Series A Obj. 2 PR 14-1A Horizontal analysis of income statement For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: V1. Sales, 12.0% increase McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 SHOW ME HOW EXCEL TEMPLATE 20Y2 20Υ1 $ 16,800,000 (11,500,000) $ 5,300,000 $ (1,770,000) 000יוב1) $ (2,990,000) $ 2,310,000 Sales $ 15,000,000 Cost of goods sold. Gross profit. Selling expenses Administrative expenses. (10,000,000) $ 5,000,000 $ (1,500,000) (1,000,000) Total operating expenses $ (2,500,000) $ 2,500,000 Operating income. Other revenue ... 256,950 225,000 Income before income tax expense. $ 2,566,950 $ 2,725,000 (1,500,000) $ 1,225,000 Income tax expense (1,413,000) $ 1,153,950 Net income Instructions 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Round percentages to one decimal place. 2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).
Problems: Series A Obj. 2 PR 14-1A Horizontal analysis of income statement For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: V1. Sales, 12.0% increase McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 SHOW ME HOW EXCEL TEMPLATE 20Y2 20Υ1 $ 16,800,000 (11,500,000) $ 5,300,000 $ (1,770,000) 000יוב1) $ (2,990,000) $ 2,310,000 Sales $ 15,000,000 Cost of goods sold. Gross profit. Selling expenses Administrative expenses. (10,000,000) $ 5,000,000 $ (1,500,000) (1,000,000) Total operating expenses $ (2,500,000) $ 2,500,000 Operating income. Other revenue ... 256,950 225,000 Income before income tax expense. $ 2,566,950 $ 2,725,000 (1,500,000) $ 1,225,000 Income tax expense (1,413,000) $ 1,153,950 Net income Instructions 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Round percentages to one decimal place. 2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).
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 1PA
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Hi there, I received only the part one and I don't have the part two can you please resubmit it to me thank you?
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