Income statement data for Yellowstone Images Inc. for the years ended December 31, 20Y5 and 20Y4, are

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Income statement data for Yellowstone Images Inc. for the years ended December 31, 20Y5 and 20Y4, are as follows:

a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for 20Y5 when compared with 20Y4. Round to one decimal place.
b. What conclusions can be drawn from the horizontal analysis?

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Survey of Accounting

ISBN: 978-1305961883

8th edition

Authors: Carl S. Warren

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Question Posted: Feb 16, 2017 09:30 AM

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Income statement data for Yellowstone Images Inc. for the years ended December 31, 20Y5 and 20Y4, are

Question:

20Y5 $1,000,000 $ 360,000 20Y4 800,000 (500,000 300,000 $ (60,000) Cost of goods sold Gross prof Selling expenses Administrative expenses Total operating expenses Income before income ta Income tax expense Net income (640,000) $ 70,000) $(120,000) $(110,000) $ 190,000 $ 240,000 $150,000 110,000

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tr msoheightsourceauto col msowidthsourceauto br msodataplacementsamecell style16 msonumberformat 000 000 00220022 msostylenameComma msostyleid3 style17 msonumberformat00220022 00000220022 ...View the full answer

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