Prepare a horizontal analysis of the following comparative income statement of Enchanted Designs. Why did net income
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Why did net income increase by a higher percentage than net sales revenue during2014?
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Enchanted Designs Income Statement For the Years Ended December 31, 2014 and 2013 ts in thousands 2014 426,411 57 6 Sales revenues 7 Less:Cost of goods sold 8 Gross profit 9 Less: Operating expenses 10 Operating income 11 Less: Interest expense 12 Income before income taxes 13 Less: Icome tax expense 14 Net income 15 371,600 166,600 180,761 100,130 145,520S 95,000 110,000 16,570 93,430 18,430 $ 97,185 is 75,000 26,551 118,969 S 21,784
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