Comparative Income Statements Consider the following income statement data from the Ross Company: Current Year Previous Year Sales revenue $525,000 $450,000 Cost of goods sold 336,000 279,000 Selling expenses 105,000 99,000 Administrative expenses 60,000 54,000 Income tax expense 7,800 5,400 Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). ROSS COMPANY Comparative Income Statements Current Year Previous Year Increase (Decrease) Percent Change Sales Revenue Answer Answer Answer Answer Cost of Goods Sold Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Selling Expenses Answer Answer Answer Answer Administrative Expenses Answer Answer Answer Answer Total Answer Answer Answer Answer Income before Income Taxes Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer
Comparative Income Statements Consider the following income statement data from the Ross Company: Current Year Previous Year Sales revenue $525,000 $450,000 Cost of goods sold 336,000 279,000 Selling expenses 105,000 99,000 Administrative expenses 60,000 54,000 Income tax expense 7,800 5,400 Prepare a comparative income statement, showing increases and decreases in dollars and in percentages. Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%). ROSS COMPANY Comparative Income Statements Current Year Previous Year Increase (Decrease) Percent Change Sales Revenue Answer Answer Answer Answer Cost of Goods Sold Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Selling Expenses Answer Answer Answer Answer Administrative Expenses Answer Answer Answer Answer Total Answer Answer Answer Answer Income before Income Taxes Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer Answer
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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Comparative Income Statements
Consider the following income statement data from the Ross Company:
Current Year | Previous Year | |
---|---|---|
Sales revenue | $525,000 | $450,000 |
Cost of goods sold | 336,000 | 279,000 |
Selling expenses | 105,000 | 99,000 |
Administrative expenses | 60,000 | 54,000 |
Income tax expense | 7,800 | 5,400 |
Prepare a comparative income statement, showing increases and decreases in dollars and in percentages.
Note: Round "Percent Change" answers to one decimal place (ex: 0.2345 = 23.5%).
ROSS COMPANY Comparative Income Statements |
||||
---|---|---|---|---|
Current Year |
Previous Year |
Increase (Decrease) |
Percent Change |
|
Sales Revenue | Answer | Answer | Answer | Answer |
Cost of Goods Sold | Answer | Answer | Answer | Answer |
Answer | Answer | Answer | Answer | Answer |
Answer | ||||
Selling Expenses | Answer | Answer | Answer | Answer |
Administrative Expenses | Answer | Answer | Answer | Answer |
Total | Answer | Answer | Answer | Answer |
Income before Income Taxes | Answer | Answer | Answer | Answer |
Answer | Answer | Answer | Answer | Answer |
Answer | Answer | Answer | Answer |
Answer
|
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