EUDALEY CORPORATION Comparative Income Statement For the Years Ended December 31
ID: 2496678 • Letter: E
Question
EUDALEY CORPORATION
Comparative Income Statement
For the Years Ended December 31
2014
2013
Net sales
$598,000
$500,000
Cost of goods sold
477,000
420,000
Gross Profit
121,000
80,000
Operating expenses
80,000
44,000
Net income
$ 41,000
$ 36,000
EUDALEY CORPORATION
Comparative Income Statement
For the Years Ended December 31
Increase or (Decrease) During 2014
2014
2013
Amount
Percentage
Net sales
$598,000
$500,000
%
Cost of goods sold
477,000
420,000
%
Gross Profit
121,000
80,000
%
Operating expenses
80,000
44,000
%
Net income
$ 41,000
$ 36,000
%
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EUDALEY CORPORATION
Comparative Income Statements
For the Years Ended December 31
2014
2013
$
Percent
$
Percent
Net sales
$598,000
%
$500,000
%
Cost of goods sold
477,000
%
420,000
%
Gross Profit
121,000
%
80,000
%
Operating expenses
80,000
%
44,000
%
Net income
$ 41,000
%
$ 36,000
%
Here are the comparative income statements of Eudaley Corporation.EUDALEY CORPORATION
Comparative Income Statement
For the Years Ended December 31
2014
2013
Net sales
$598,000
$500,000
Cost of goods sold
477,000
420,000
Gross Profit
121,000
80,000
Operating expenses
80,000
44,000
Net income
$ 41,000
$ 36,000
Explanation / Answer
Statement of horizontal analysis of the income statement data for Eudaley Corporation.
Statement of vertical analysis of the income statement data for Eudaley Corporation for both years.
EUDALEY CORPORATION Comparative Income Statement For the Years Ended December 31 Increase or (Decrease) During 2014 2014 2013 Amount Percentage Net sales 5,98,000 5,00,000 98,000.00 19.6% Cost of goods sold 4,77,000 4,20,000 57,000.00 13.6% Gross Profit 1,21,000 80,000 41,000.00 51.3% Operating expenses 80,000 44,000 36,000.00 81.8% Net income 41,000 36,000 5,000.00 13.9%Related Questions
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