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Title: Prepare a horizontal analysis of the following comparative income statement for Westwind ... Post by: Bored. on Nov 11, 2017 Prepare a horizontal analysis of the following comparative income statement for Westwind Corporation. Round percentage changes to the nearest one-tenth percent.
Westwind Corporation Comparative Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 Total revenue $1,400,000 $1,250,000 Expenses: Cost of goods sold $925,000 $830,000 Operating expenses 313,000 280,000 Interest expense 14,000 12,000 Income tax expense 48,300 38,000 Total expenses $1,300,300 $1,160,000 Net income $99,700 $90,000 Title: Re: Prepare a horizontal analysis of the following comparative income statement for Westwind ... Post by: rjckE on Nov 11, 2017 Westwind Corporation
Comparative Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 Amount Percent Total revenue $1,400,000 $1,250,000 $150,000 12.0% Expenses: Cost of goods sold $ 925,000 $ 830,000 95,000 11.4% Operating expenses 313,000 280,000 33,000 11.8% Interest expense 14,000 12,000 2,000 16.7% Income tax expense 48,300 38,000 10,300 27.1% Total expenses $1,300,300 $1,160,000 140,300 12.1% Net income $99,700 $90,000 9,700 10.8% |