Income statements for Sennett Company for 2008 and 2009 follow. Required a. Perform a horizontal analysis, showing

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Income statements for Sennett Company for 2008 and 2009 follow.

Required
a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2008 and 2009.
b. Perform a vertical analysis, showing each income statement component as a percent of sales for eachyear.

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Survey of Accounting

ISBN: 978-0073379555

2nd edition

Authors: Edmonds, old, Mcnair, Tsay

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Question Posted: Jan 03, 2012 04:15 AM

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Income statements for Sennett Company for 2008 and 2009 follow. Required a. Perform a horizontal analysis, showing

Question:

2009 2008 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income S121,000 S92,000 51,000 11,000 14,000 5,000 81,000 11,000 2,000 S 8,000 9,000 75,000 20,000 12,000 3,000 110,000 11,000 3,000

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a Horizontal Analysis Sennett Company Horizontal Analysis of Income Statements 2009 2008 ...View the full answer

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