The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a horizontal analysis for 2025 using 2024 as the base year. (Decreases should be indicated with a minus sign percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income Income Statement For the Years Ended December 31 Year $ FEDERER SPORTS APPAREL $ 2025 2024 18,700,000 $ 13,239,600 5,460,400 1,570,800 972,400 187,000 1,477,300 308,000 1,252,900 6,003,800 430,100 1,971,200 822,800 $ 4,032,600 15,400,000 6,945,400 8,454,600 1,170,400 972,400 Increase (Decrease) Amount %

The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a horizontal analysis for 2025 using 2024 as the base year. (Decreases should be indicated with a minus sign percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income Income Statement For the Years Ended December 31 Year $ FEDERER SPORTS APPAREL $ 2025 2024 18,700,000 $ 13,239,600 5,460,400 1,570,800 972,400 187,000 1,477,300 308,000 1,252,900 6,003,800 430,100 1,971,200 822,800 $ 4,032,600 15,400,000 6,945,400 8,454,600 1,170,400 972,400 Increase (Decrease) Amount %

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 9.2.2P

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