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Social ScienceThe comparative income statements of O'Neil Music Co. follow:EEB (Click the icon to view the comparative income statements.)RequirementPrepare a horizontal analysis of the comparative income statements of O'Neil Music Co. Round percentage changes to the nearest one-tenth percent. (Use aminus sign or parentheses for decreases. Round percentage changes to the nearest one-tenth percent, X.X%.)O'Neil Music CoHorizontal Analysis of Comparative Income StatementsYears Ended December 31, 2018 and 2017Data TableIncrease (Decrease)Amount Percentage20182017$ 1,077,000 $ 917,000O'Neil Music CoComparative Income StatementsYears Ended December 31, 2018 and 2017Total revenueExpenses:Cost of goods soldSelling and general expensesInterest expenseIncome tax expenseotal expenses477,000 408,750287,000 267,00013,50084,650893,000 773,900S 184,000 $ 143,10020182017Total revenue$ 1,077,000 $917,00023,500105,500ExpensesCost of goods soloSelling and general expensesInterest expenseIncome tax expenseotal expenses477,000 $ 408,750267,00013,50084,650773,900$184,000$143,100287,00023,500105,500893,000Net incomeNet incomePrint Done
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The comparative income statements of O'Neil Music Co. follow: EEB (Click the icon to view the comparative income statements.) Requirement Prepare a horizontal analysis of the comparative income statements of O'Neil Music Co. Round percentage changes to the nearest one-tenth percent. (Use a minus sign or parentheses for decreases. Round percentage changes to the nearest one-tenth percent, X.X%.) O'Neil Music Co Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2018 and 2017 Data Table Increase (Decrease) Amount Percentage 2018 2017 $ 1,077,000 $ 917,000 O'Neil Music Co Comparative Income Statements Years Ended December 31, 2018 and 2017 Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense Income tax expense otal expenses 477,000 408,750 287,000 267,000 13,500 84,650 893,000 773,900 S 184,000 $ 143,100 2018 2017 Total revenue $ 1,077,000 $917,000 23,500 105,500 Expenses Cost of goods solo Selling and general expenses Interest expense Income tax expense otal expenses 477,000 $ 408,750 267,000 13,500 84,650 773,900 $184,000$143,100 287,000 23,500 105,500 893,000 Net income Net income Print Done
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Horizontal Analysis of Comparative Income Statement:
Note: The Increase (Decrease) amounts are calculated by subtracting 2018 and 201...
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