Question 1 The comparative condensed income statements of Emley Corporation are

Question

Question 1 The comparative condensed income statements of Emley Corporation are shown below EMLEY CORPORATION For the Years Ended December 31 Net sales Cost of goods sold Gross profit Operating expenses Net income 2017 $733,600 536,130 197,470 138,750 $ 58,720 2016 $666,000 466,200 199,800 133,200 S 66,600 Prepare a horizontal analysis of the income statement data for Emley Corporation using 2016 as a base. (Enter negative amounts and percentages using either a negative sign preceding the number e.g.-45,-45% or parentheses e.g. (45), (45%) Round percentages to 1 decimal place, e.g. 12.3%.) EMLEY CORPORATION Increase or (Decrease) During 2017 2017 2016 Amount Percentage Net sales $733,600 $666,000 Cost of goods sold 536,130 466,200 Gross proft 197,470 199,800 Operating expenses 138,750 133,200 Net income $58,720 $66,600

Explanation / Answer

Horizontal analysis :

Vertical analysis :

2017 2016 Amount Percentage Sales 733600 666000 67600 10.2% Cost of goods sold 536130 466200 69930 15.0% Gross profit 197470 199800 -2330 -1.2% Operating expense 138750 133200 5550 4.2% Net income 58720 66600 -7880 -11.8%

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

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