From the comparative income statement of Miller Company in Figure 22.13, do the following: a. Prepare a
Question:
From the comparative income statement of Miller Company in Figure 22.13, do the following:
a. Prepare a horizontal analysis with the amount of increase or decrease during 2021 along with the percent increase or decrease during 2021 (to the nearest tenth of a percent).
b. Vertically analyze the 2021 column of the income statement (to the nearest tenth of a percent).
c. Prepare a common-size comparative income statement (to the nearest tenth of a percent) for 2020 and 2021.
Transcribed Image Text:
MILLER COMPANY COMPARATIVE INCOME STATEMENT FOR YEARS ENDED DECEMBER 31, 2021, AND DECEMBER 31, 2020 Net Sales Cost of Goods Sold Gross Profit from Sales Operating Expenses: Selling General and Administrative Total Operating Expenses Operating Income Less Interest Expense Income Before Taxes Income Taxes Net Income December 31 2021 2020 $ 26000000 $ 30600000 185 0 0 0 00 150|0|0|0|00 156|0|0|0|00 7500000 20|0|0|0|00 2400000 44 0 0 0 001 3100000 600000 78 0 010001 33 000 00 11100000 4500000 1200000 25/0|0|0|00 33 000 00 1001010100 13|2|0|0|00 $ 150|0|0|00||$ 198|0|0|00
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College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
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