Question: Complete the comparative income statement and balance sheet for Logic Company. Note: Input all answers as positive values except decrease answers which should be indicated
Complete the comparative income statement and balance sheet for Logic Company. Note: Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round. "percent" answers to the nearest hundredth percent. LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2022 and 2023 Increase (Decrease) 2023 2022 Amount Percent Gross sales S 20.600 S 16.200 Sales returns and allowances 800 10 Net sales $ 19,800 $ 16,100 Cost of merchandise (goods) sold 11,600 8.600 Gross profit S 8.200 $ 7.500 Operating expenses: Depreciation $ 860 680 Selling and administrative 3.400 2.800 Research 710 580 Miscellaneous 520 380 Total operating expenses 5,490 4,440 Income before interest and taxes 2.710 3,060 Interest expense 720 580 Income before taxes S 1.990 2.480 Provision for troops 796 992 Net income 1,194 $ 1,488
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