Complete the horizontal analysis for Sunshine Carpet Cleaners using the template found below. Compared to the change in the year over year sales, comment on whether the company is operating more or less efficiently in 2022 (compared to 2021) DEC 31 2021 DEC 31 2022 $2,600,000 $2,360,000 $200,000 $180,000 2,400,000 2,180,000 1,200,000 1,038,000 $1,340,000 $1,142,000 Sales Less Returns Net Sales COGS Gross profit Operating expenses Administrative Marketing & Advertising Depreciation 710,000 80,000 40,000 Total Operating Expenses 830,000 510,000 255,000 255,000 Operating profit Income taxes@50% Net income 653,000 76,000 30,000 759,000 383,000 191,500 191,500

Complete the horizontal analysis for Sunshine Carpet Cleaners using the template found below. Compared to the change in the year over year sales, comment on whether the company is operating more or less efficiently in 2022 (compared to 2021) DEC 31 2021 DEC 31 2022 $2,600,000 $2,360,000 $200,000 $180,000 2,400,000 2,180,000 1,200,000 1,038,000 $1,340,000 $1,142,000 Sales Less Returns Net Sales COGS Gross profit Operating expenses Administrative Marketing & Advertising Depreciation 710,000 80,000 40,000 Total Operating Expenses 830,000 510,000 255,000 255,000 Operating profit Income taxes@50% Net income 653,000 76,000 30,000 759,000 383,000 191,500 191,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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