The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare...

 

Transcribed Image Text:

The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a horizontal analysis for 2025 using 2024 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income Income Statement For the Years Ended December 31 Year $ FEDERER SPORTS APPAREL $ 2025 17,900,000 $ 13,532,400 4,367,600 1,360,400 787,600 35,800 1,270,900 912,900 268,500 644,400 2024 14,600,000 6,467,800 8,132,200 992,800 787,600 219,000 6,132,800 1,752,000 $ 4,380,800 Increase (Decrease) Amount % The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a horizontal analysis for 2025 using 2024 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income Income Statement For the Years Ended December 31 Year $ FEDERER SPORTS APPAREL $ 2025 17,900,000 $ 13,532,400 4,367,600 1,360,400 787,600 35,800 1,270,900 912,900 268,500 644,400 2024 14,600,000 6,467,800 8,132,200 992,800 787,600 219,000 6,132,800 1,752,000 $ 4,380,800 Increase (Decrease) Amount %

Answer rating: 100% (QA)

To determine the percentage of students shorter than 63 in... View the full answer