The EB Cick the Iicon to view the comparative income statomants Requirement (Use

Question

The EB Cick the Iicon to view the comparative income statomants Requirement (Use a minus sign dr 2 Horizontal Analysis of Comparative Income Statements Years Ended December 31, 2016 and 2015 Increase (Decrease) Amount Percentage 2016 2015 Total revenue $ 844.000$ 934,000 | (90000) Expenses 404.000 400 000 234,000261,000 9.30012.000 84,00086000 731,300 759 000 112.700 $ 175 000 4000 10 3 Seling and general expenses Interest expense 7002) 00) (27700 Total expenses 4623001--(356 Enter any number in the edit fields and then continue to the next question

Explanation / Answer

Dancing Music Co. Horizontal Analysis of the Comparative Income Statement Year Ended 31 December , 2015 & 2016 Increase (Decrease) 2016 2015 Amount Percentage Total revenue $ 844,000 $ 934,000 (90,000) (9.6) % Expenses Cost of goods sold 404,000 400,000 4,000 1 Selling and general expenses 234,000 261,000 (27,000) (10.3) Interest expense 9,300 12,000 (2,700) (22.5) Income tax expense 84,000 86,000 (2,000) (2.3) Total expense 731,300 759,000 (27,700) (3.6) Net Income $ 112,700 $ 175,000 (62,300) (35.6) %

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