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Analysis Inc Stmt Prepare a horizontal analysis of the income statement. (Negative answers should be indicated...

Analysis Inc Stmt

Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).)
ALLENDALE COMPANY
Horizontal Analysis of Income Statements
2019 2018 Percentage Change
Revenues
Sales (net) $230,000 $210,000 ) %
Other revenues 8,000 5,000
Total revenues 238,000 215,000
Expenses
Cost of goods sold 120,000 103,000
Selling, general, and administrative expenses 55,000 50,000
Interest expense 8,000 7,200
Income tax expense 23,000 22,000
Total expenses 206,000 182,200
Net income (loss) $32,000 $32,800 %
Business   Accounting   
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