9. The income statements for Urban Oudits, Inc. are presented below Urban Outfes

Question

9. The income statements for Urban Oudits, Inc. are presented below Urban Outfes, Inc Income Statements Year Ended December 31 Curment Year Prior Year $754,127 5815.059 377,091 407,176 377,038 407,883 Cost of goods sold Gross profe Operating and other expenses 130044 142,40 espenses 130044 142 40 18.8007,800 nterest expense Income tax expense 47.500 4200 Net income $180.002 $208.474 Prepare a horcontal analysis of the income stanement above (Round your answers to the nearest whole percent) OUTFITS Income Statements Year Ended December 31 Increase (Decrease Prior Year | Amount | Percent(%) Sales Revenue Cost of Goods Sold Gro Proft Operating and Oner Expenses nrast Expense Income Tax bperse Income 754 127 8150 87703 407 883 130 and Other Experses 142 18.800 O Type here to search

Explanation / Answer

(a) Horizontal analysis of the Income statement Urban Outfits Inc Income Statement Year Ended Dec 31 Increase or (Decrease) Current Year Prior Year Amount Percentage Sales Revenue 754127 815059 -60932 -7% (754127-815059) (-60932/815059)*100 Cost of Goods Sold 377091 407176 -30085 -7% (377091-407176) (-30085/407176)*100 Gross Profit 377036 407883 -30847 -8% (377036-407883) (-30847/407883)*100 Operating and other Expenses 130644 142409 -11765 -8% (130644-142409) (-11765/142409)*100 interest expense 18800 7800 11000 141.0% (18800-7800) (11000/7800)*100 income tax expense 47500 49200 -1700 -3% (47500-49200) (-1700/49200)*100 Net Income 180092 208474 -28382 -14% (180092-208474) (-28382/208474)*100

Related Questions

Navigate

• Browse (All)
• Browse 9
• Subjects

---

---

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