Problem 12-2A (Algo) Perform horizontal analysis (LO12-2)The income statements for Anything Outdoors for the years ending December 31, 2024 and 2023, are provided below.Required:1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of the income statements for AnythingOutdoors. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)Net salesCost of goods soldGross profitOperating expensesOperating incomeOther income (expense)Income before taxIncome tax expenseNet incomeANYTHING OUTDOORSIncome StatementsFor the Years Ended December 3120242023$ 3,350,000 $2,520,000 $2,100,0001,250,000785,000465,0009,000474,00097,500376,500 $$1,355,0001,165,000610,000555,0005,500560,500135,000425,500 $Increase (Decrease)Amount830,000745,00085,000175,000(90,000)3,500(86,500)(37,500)(49,000)%32.9

Horizontal analysis is helps to measure of a company's financial statements over a number of…

The income statements for Anything Outdoors for the years ending December 31, 2024 and 2023, are provided below Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of the income statements for Anything Outdoors. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) ANYTHING OUTDOORS Income Statements For the Years Ended December 31 2024 2023 Increase (Decrease) % Amount

The income statements for Anything Outdoors for the years ending December 31, 2024 and 2023, are provided below Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of the income statements for Anything Outdoors. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) ANYTHING OUTDOORS Income Statements For the Years Ended December 31 2024 2023 Increase (Decrease) % Amount

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 77E: Ratio Analysis The following information was taken from Logsden Manufacturings trial balances as of...

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Problem 12-2B (Algo) Perform horizontal analysis (LO12-2) The income statements for Galaxy Tennis for the years ending December 31, 2024 and 2023, are provided below. Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of Galaxy Tennis income statement. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income GALAXY TENNIS Income Statements For the Years Ended December 31 2024 2023 $ 6,090,000 $ 6,210,000 2,830,000 2,910,000 3,260,000 3,300,000 1,500,000 1,382,000 1,760,000 1,918,000 58,000 81,000 1,818,000 1,999,000 386,000 433,000 $ 1,432,000 $ 1,566,000 Increase (Decrease) Amount %
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Requirement 1. Prepare a horizontal analysis of the comparative income statement of McCormick Designs, Inc. Round percentage changes to one decimal place. (Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) McCormick Designs, Inc. Comparative Income Statement Years Ended December 31, 2024 and 2023 Increase (Decrease) 2024 2023 Amount Percentage Net Sales Revenue $429,000 $373,750 % Expenses: Cost of Goods Sold 204,000 190,450 % Selling and Administrative Expenses 96,000 91,050 % Other Expenses 7,450 5,750 % Total Expenses 307,450 287,250 % Net Income $121,550 $86,500 % Requirement 2. Why did 2024 net income increase by a higher percentage than net sales revenue? Net income increased by a higher percentage than total net…
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Income statements for Campbell Company for Year 3 and Year 4 follow: CAMPBELL COMPANY Income Statements Year 4 Year 3 $180,800 120,400 19,900 14,500 Sales $200,800 Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses 142,400 21,900 12,500 3,900 $180,700 5,900 $160,700 20,100 3,700 Income before taxes 20,100 Income taxes expense 6,500 Net income $ 13,600 $ 16,400 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. Complete this question by entering your answers in the tabs below. Required A Required B Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered…
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