Consider the following income statement data from the Mono Company: a. Prepare a comparative income statement, showing
Question:
Consider the following income statement data from the Mono Company:
a. Prepare a comparative income statement, showing increases and decreases in dollars and in percentages.
b. Comment briefly on the changes between the two years.
Transcribed Image Text:
Sales revenue.... Cost of goods sold. Selling expenses Administrative expenses. Income tax expense. 2019 2018 $600,000 $450,000 336,000 279,000 105,000 99,000 60,000 50,000 4,000 3,000
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