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Harrison Harrison
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6 years ago
Snowy Lane Inc.
   Comparative Income Statement
   For the Years Ended December 31, 2014 and 2013

   2014   2013
Net sales   $3,500,000   $2,200,000
Expenses:
Cost of goods sold   $1,200,000   $680,000
Selling and general expenses   350,000   300,000
Interest expense   42,000   35,000
Income tax expense   337,000   270,000
Total expenses   $1,929,000   $1,285,000
Net income   $1,571,000   $915,000

   Prepare a common-size comparative income statement for Snowy Lake Incorporated on December 31, 2013 and 2014. Note: round percentages to one-tenth percent.
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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msayed2004msayed2004
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Harrison Author
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6 years ago
Thank you, thank you, thank you!
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Brilliant ツ
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