Question

The income statements that follow are for Kaluza Hardware Corporation.


REQUIRED
1. From the information provided, prepare a multistep income statement for 2011 and 2010 showing percentages of net sales for each component.
2. Did income from operations increase or decrease from 2010 to 2011? Write a short explanation of why this change occurred.
3. What effect did other revenues and expenses have on the change in income before income taxes? What action by Kaluza Hardware’s management probably accounted for thischange?


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  • CreatedSeptember 10, 2014
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