Prepare a horizontal analysis of the comparative income statements of McMahon Music Co. Round percentage changes to
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McMahon Music Co. Comparative Income Statements Years Ended December 31, 2012 and 2011 2012 2011 Total revenue $1,077,000 $917,000 Expenses Cost of goods sold Selling and general expenses Interest expense Income tax expense Total expenses $477,000 $408,750 287,000265,000 23,500 13,500 84,650 893,000771,900 $184,000$145,100 105,500 Net income
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Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
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