3 The income statements for Federer Sports Apparel for 2022 and 2021 are prese, ted below....
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3 The income statements for Federer Sports Apparel for 2022 and 2021 are prese, ted below. Required: Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated with a minus sign. percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year $ S 2022 19,100,000 $ 13,064,400 6,035,600 1,680,800 1,069,600 267,400 1,585,300 1,432,500 515,700 916,800 S 2021 15,800,000 7,189,000 8,611,000 1,264,000 1,069,600 347,600 5,929,800 2,085,600 3,844.200 Increase (Decrease) Amount % 3 The income statements for Federer Sports Apparel for 2022 and 2021 are prese, ted below. Required: Prepare a horizontal analysis for 2022 using 2021 as the base year. (Decreases should be indicated with a minus sign. percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income FEDERER SPORTS APPAREL Income Statement For the Years Ended December 31 Year $ S 2022 19,100,000 $ 13,064,400 6,035,600 1,680,800 1,069,600 267,400 1,585,300 1,432,500 515,700 916,800 S 2021 15,800,000 7,189,000 8,611,000 1,264,000 1,069,600 347,600 5,929,800 2,085,600 3,844.200 Increase (Decrease) Amount %
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To compute change since Base period we use the formula Current Year Amount Base Year Amount Base Yea... View the full answer
Related Book For
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
Posted Date:
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