Data for Mulberry Designs, Inc. follow: Requirements 1. Prepare a horizontal analysis of the comparative income statement
Question:
Requirements
1. Prepare a horizontal analysis of the comparative income statement of Mulberry Designs, Inc. Round percentage changes to one decimal place.
2. Why did 2018 net income increase by a higher percentage than net sales revenue?
Transcribed Image Text:
MULBERRY DESIGNS, INC. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 2017 $ 431,000 $ 372,350 Net Sales Revenue Expenses: Cost of Goods Sold 203,850 186,000 Selling and Administrative Expenses 99,000 93,250 Other Expenses 9,000 4,650 Total Expenses 311,850 283,900 $ 119,150 $ 88,450 Net Income
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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