Revenue and expense data for Mandell Technologies Co. are as follows: a. Prepare an income statement in
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Revenue and expense data for Mandell Technologies Co. are as follows:
a. Prepare an income statement in comparative form, stating each item for both 2012 and 2011 as a percent of sales. Round to one decimal place.
b. Comment on the significant changes disclosed by the comparative incomestatement.
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Sales Cost of goods sold Selling expenses Administrative expenses Income tax expense 2012 $800,000 504,000 120,000 128,000 33,600 2011 $740,000 407,000 140,600 125,800 48,100
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