Prepare a horizontal analysis of the comparative income statements of Murillo Music Co. Round percentage changes to the nearest one-tenth percent (three decimalplaces).

Transcribed Image Text:

A1 Murillo Music Co. Comparative Income Statements Years Ended December 31, 2014 and 2013 2014 s 839,000 8 2013 Total revenue Expenses: 897,000 $ 401,000 Cost of goods sold Selling and general expenses Interest expense Income tax expense Total expenses 400,000 234,000 263,000 12,000 86,000 761,000 110,700 136,000 5 6 9,300 84,000 728,300 Net income 1