Prepare a comparative common-size income statement for Spellbound Designs using the 2012 and 2011 data of Exercise
Question:
Data of Exercise 14-13A
Why did net income increase by a higher percentage than net sales revenue during 2012?
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Spellbound Designs Comparative Income Statements Years Ended December 31, 2012 and 2011 2012 2011 Net sales revenue Expenses: Selling and general expense$120,960 $105,000 30,240 21,000 5393,120 $336,000 $110,880 84,000 Other expense Total expenses Net income
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Evaluating manufacturing processes by designing and conducting research programs; applying knowledge of product design, fabrication, assembly, tooling, and materials; conferring with equipment vendors; soliciting observations from operators. Developing manufacturing processes by studying product requirements; researching, designing, modifying, and testing manufacturing methods and equipment; conferring with equipment vendors. Keeping equipment operational by coordinating maintenance and repair services; following manufacturer's instructions and established procedures; requesting special service.
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