ncome statement data for Boone Company for the years ended December 31, 20Y5 and 20Y4, are as follows: 20Y5 20Υ4 Sales $673,200 $510,000 Cost of goods sold (572,000) (440,000) Gross profit $101,200 $70,000 Selling expenses $(30,500) $(25,000) Administrative expenses (27,300) (21,000) Total operating expenses $(57,800) $(46,000) Income before income tax $43,400 $24,000 Income tax expenses (17,400) (9,600) Net income $26,000 $14,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for 20Y5 when compared with 20Y4. Round percentage answers to one decimal place. Boone Company

ncome statement data for Boone Company for the years ended December 31, 20Y5 and 20Y4, are as follows: 20Y5 20Υ4 Sales $673,200 $510,000 Cost of goods sold (572,000) (440,000) Gross profit $101,200 $70,000 Selling expenses $(30,500) $(25,000) Administrative expenses (27,300) (21,000) Total operating expenses $(57,800) $(46,000) Income before income tax $43,400 $24,000 Income tax expenses (17,400) (9,600) Net income $26,000 $14,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for 20Y5 when compared with 20Y4. Round percentage answers to one decimal place. Boone Company

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 38E: Sundahl Companys income statements for the past 2 years are as follows: Refer to the information for...

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