Comparative income statements are available for Johanna's Fine Furs: Required Perform horizontal and vertical analyses on each

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Comparative income statements are available for Johanna's Fine Furs:

Required
Perform horizontal and vertical analyses on each of the items in the above comparative income statements. Round percentages to one decimal point (i.e., 10.1%).

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Financial ACCT2

ISBN: 978-1111530761

2nd edition

Authors: Norman H. Godwin, C. Wayne Alderman

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Question Posted: Oct 19, 2015 06:41 AM

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Comparative income statements are available for Johanna's Fine Furs: Required Perform horizontal and vertical analyses on each

Question:

2012 2011 Sales $850,000 $800,000 Cost of sales 325,000 275,000 Gross profit Operating expenses Operating profit 525,000 525,000 175,000 120,000 405,000 350,000 Income tax expense 105,000 121,500 Net income $245,000 $283,500

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Financial ACCT2

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