Prepare a horizontal analysis of the following comparative income statement of Zinkowski, Inc. Round percentage changes to
Question:
Prepare a horizontal analysis of the following comparative income statement of Zinkowski, Inc. Round percentage changes to the nearest tenth of a percent.
Requirement
Why did net income increase by a higher percent than total revenues increased during 2014?
Transcribed Image Text:
Zinkowski, Inc Comparative Income Statement Years Ended December 31, 2014 and 2013 2014 2013 Revenue $480,000 $411,100 Expenses Cost of Goods Solo Selling and General Expenses Interest Expense Income Tax Expense $254,000 110,000 6,500 46,600 417,100 62,900 $226,000 105,500 2,000 45,000 378,500 32,600 Total Expenses Net Income
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Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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