E13-16A (similar to) The comparative income statements of Reasonable Music Co. f

Question

E13-16A (similar to) The comparative income statements of Reasonable Music Co. follow Click the icon to view the comparative income statements.) Requirement 1. Prepare a horizontal analysis of the comparative income statements of Reasonable Music Co. Round percentage changes to the nearest one-tenth percent (Use a minus sign or parentheses for decreases. Round percentage changes to the nearest one-tenth percent, XX% Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2016 and 2015 Increase (Decrease) Amount Percentage 2016 2015 s 844,000 S 934000 Total revenue Expenses: Cost of goods sold Selling and general expenses Interest expense 04,000 400,000 234,000 267,000 9,300 12,000 Enter any number in the edit fields and then click Check Answer Clear All All parts showing th

Explanation / Answer

Particulars 2016 2015 Amount % Total Revenue $        844,000 $        934,000 $       (90,000) -9.64% Expenses Cost of goods sold $        404,000 $        400,000 $            4,000 1.00% Selling and general Exp $        234,000 $        267,000 $       (33,000) -12.36% Interest exp $            9,300 $          12,000 $         (2,700) -22.50% Income tax exp $          84,000 $          86,000 $         (2,000) -2.33% Total Exp $        731,300 $        765,000 $       (33,700) -4.41% Net Income $        112,700 $        169,000 $       (56,300) -33.31%

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.