The income statements for Urban Outfits, Inc. are presented below: Urban Outfits, Inc. Income Statements Year...
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The income statements for Urban Outfits, Inc. are presented below: Urban Outfits, Inc. Income Statements Year Ended December 31 Sales Revenue Cost of Goods Sold Gross Profit Operating and Other Expenses Interest Expense Income Tax Expense Net Income Current Year $761,559 376,667 384,892 130, 196 7,050 41,600 $206,046 Prior Year $709,128 346,862 362,266 120,440. 12,300 40,700 $188,826 Required: Prepare a horizontal analysis of the income statement above. (Round your percentage answers to 2 decimal places. Enter any decreases with a minus sign.) He The income statements for Urban Outfits, Inc. are presented below: Urban Outfits, Inc. Income Statements Year Ended December 31 Sales Revenue Cost of Goods Sold Gross Profit Operating and Other Expenses Interest Expense Income Tax Expense Net Income Current Year $761,559 376,667 384,892 130, 196 7,050 41,600 $206,046 Prior Year $709,128 346,862 362,266 120,440. 12,300 40,700 $188,826 Required: Prepare a horizontal analysis of the income statement above. (Round your percentage answers to 2 decimal places. Enter any decreases with a minus sign.) He
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To prepare a horizontal analysis of the income statement we will calculate the percentage change in ... View the full answer
Related Book For
Financial Accounting IFRS
ISBN: 978-1118285909
2nd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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