Edit View History Bookmarks Develop Window Help US Practice ignment Weygandt, Fi

Question

Edit View History Bookmarks Develop Window Help US Practice ignment Weygandt, Financial& Managerial Accounting, 1e Gradebook ORION Exercise 14-4 [] Your answer is partially correct. Try again. The comparative condensed income statements of Hendi Corporation are shown below the Y Net sales Cost of goods sold Gross profit $602,700 464,290 138,410 56,440 81,970 501,160 398,850 102,310 55,440 46,870 Net income (a) Prepare a horizontal analysis of the income statement data for Hendi Corporation using 2013 as a base. (Show the amounts of increase or decrease.) rr decrease show the numbers as negative, eg.-ss,ooo,-20% or (SS,000).(20%). Round percentages te i decimal pace esaiyo For the Years Ended December 31 During 2013 Net sales $602,700 $501,160

Explanation / Answer

Amount % Net Sales                   101,540       20.3 Cost of goods sold                      65,440       16.4 Gross Profit                      36,100       35.3 Operating Expenses                        1,000         1.8 Net Income                      35,100           75 Amount % Amount % Net Sales                   602,700 100              501,160 100 Cost of goods sold                   464,290       77.0              398,850        79.6 Gross Profit                   138,410       23.0              102,310        20.4 Operating Expenses                      56,440         9.4                55,440        11.1 Net Income                      81,970       13.6                46,870          9.4

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

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