For 20Y2, Macklin Inc. reported a significant decrease in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1   20Y2   20Y1 Sales $652,230    $560,000  Cost of goods sold (469,000)   (350,000) Gross profit $183,230    $210,000  Selling expenses $(66,980)   $(47,000) Administrative expenses (39,180)   (30,000) Total operating expenses $(106,160)   $(77,000) Operating income $77,070    $133,000  Other revenue 3,046    2,400  Income before income tax expense $80,116    $135,400  Income tax expense (22,400)   (40,600) Net income $57,716    $94,800  Required: 1.  Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place.

Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows:       Current Year       Previous Year Sales $418,200     $340,000   Cost of goods sold 350,900     290,000   Gross profit $67,300     $50,000   Selling expenses $19,210     $17,000   Administrative expenses 16,940     14,000   Total operating expenses $36,150     $31,000   Income before income tax $31,150     $19,000   Income tax expenses 12,500     7,600   Net income $18,650     $11,400   a.  Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company Comparative Income Statement For the Years Ended December 31   CurrentyearAmount PreviousyearAmount Increase(Decrease)Amount Increase(Decrease)Percent Sales $418,200 $340,000 $fill in the blank…

Horizontal analysis of the income statement income statement data for Winthrop company for two recent years ended December 31st are as follows. Sales Cost of goods Gross profit Selling expenses Administrative expenses Total operating expense Income before income tax expense Income tax expense Net income Current year 2,240,000 sales (1,925,000) no cost of goods $315,000 gross profit $ (152,500) selling expenses 118,000 administrative expenses $(270,500) total operating expense $44,500 income before tax expense (17,800) income tax expense $26,700 net income Previous year $2,000,000 sales (1,750,000) cost of goods $250,000 gross profit ($125,000) selling expenses (100,000) administrative expenses ($225,000) total operating expense $25,000 income before income tax expense ( 10,000) income tax expense $15,000 A. Prepare a comparative income statement with horizontal analysis Tama indicated the increase and decrease for the current year when compared with the…

Bellingham Industries, a manufacturer of the furniture industry, had the following               financial performance for the last two years as shown on their income statements below:                               Billingham Industries, Inc.     Comparative Income Statement     For the Years Ended December 31, 2021 and 2020           2021   2020           Amount   Amount       Sales   $1,280,000   $1,180,000       Cost of goods sold   644,800   613,600       Gross profit   635,200   566,400       Selling expenses   230,500   188,800       Administrative expenses   182,500   177,000       Total operating expenses   413,000   365,800       Income from operations   222,200   200,600       Other income   77,000   70,800       Income before income tax   299,200   271,400       Income tax expense   121,600   106,200       Net income   $177,600   $165,200                                     1. Prepare a horizontal analysis using the form provided to…

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Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31 are as follows: Current Year Previous Year Sales $536,800 $440,000 Cost of merchandise sold 444,000 370,000 Gross profit $92,800 $70,000 Selling expenses $25,760 $23,000 Administrative expenses 22,800 19,000 Total operating expenses $48,560 $42,000 Income before income tax expense $44,240 $28,000 Income tax expenses 17,700 11,200 Net income $26,540 S16,800 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. If required, round to one decimal place. Winthrop Company Comparative Income Statement For the Years Ended December 31 Current Increase Increase (Decrease) Previous year year (Decrease)

Income statement data for Winthrop Company for two recent years ended December 31 are as follows:   1   Current Year Previous Year 2 Sales $1,596,000.00 $1,400,000.00 3 Cost of goods sold 1,316,700.00 1,197,000.00 4 Gross profit $279,300.00 $203,000.00 5 Selling expenses $76,950.00 $67,500.00 6 Administrative expenses 55,000.00 50,000.00 7 Total operating expenses $131,950.00 $117,500.00 8 Income before income tax $147,350.00 $85,500.00 9 Income tax expense 11,060.00 7,000.00 10 Net income $136,290.00 $78,500.00       A. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. Round percentages to one decimal place. B. What conclusions can be drawn from the horizontal analysis? Round the answers to one decimal place.

Bellingham Industries, a manufacturer of the furniture industry, had the following               financial performance for the last two years as shown on their income statements below:                               Billingham Industries, Inc.     Comparative Income Statement     For the Years Ended December 31, 2021 and 2020           2021   2020           Amount   Amount       Sales   $1,280,000   $1,180,000       Cost of goods sold   644,800   613,600       Gross profit   635,200   566,400       Selling expenses   230,500   188,800       Administrative expenses   182,500   177,000       Total operating expenses   413,000   365,800       Income from operations   222,200   200,600       Other income   77,000   70,800       Income before income tax   299,200   271,400       Income tax expense   121,600   106,200       Net income   $177,600   $165,200                                     1. Prepare a horizontal analysis using the form provided to…

Comparative Income Statements Consider the following income statement data from the Ross Company: Current Year Previous Year $525,000 $451,000 336,000 280,000 105,000 100,000 60,000 55,000 7,800 6,400 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense 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 Sales Revenue Cost of Goods Sold Selling Expenses Administrative Expenses Total Income before Income Taxes Increase Current Year Previous Year (Decrease) $ $ $ $ $ $ Percent Change % % % % % % % % %