Data for Mulberry Designs, Inc. follow: Requirements 1. Prepare a horizontal analysis of the comparative income statement
Question:
Data for Mulberry Designs, Inc. follow:
Requirements
1. Prepare a horizontal analysis of the comparative income statement of Mulberry Designs, Inc. Round percentage changes to one decimal place.
2. Why did 2024 net income increase by a higher percentage than net sales revenue?
Transcribed Image Text:
MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2024 and 2023 Net Sales Revenue Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses Net Income 2024 $431,000 203,850 99,000 9,000 311,850 $ 119,150 2023 $ 372,350 186,000 93,250 4,650 283,900 $ 88,450
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Related Book For
Horngrens Accounting The Financial Chapters
ISBN: 9780136162186
13th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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