Question: McMann Company has a condensed income statement as shown: Required: Prepare a horizontal analysis of McMann Company's income statements. Comment on the trends, both favorable

McMann Company has a condensed income statement as shown:

Required:
Prepare a horizontal analysis of McMann Company's income statements. Comment on the trends, both favorable and unfavorable.

2011 2010 $178,400 $162,500 Sales Wage expenses Rent expenses 100,000 92,500 33,000 30,000 Utilities expenses 30,000 25,000 Total operating expenses 163,000 147,500 Net income 15,400 15,000

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