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6 years ago
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
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6 years ago
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%
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