Data for ABC, Inc. for the years ended December 31, 2019 and 2018 are as follows: 2019
Question:
Data for ABC, Inc. for the years ended December 31, 2019 and 2018 are as follows:
2019 2018
Net Sales $850,000 $798,000
Cost of Goods Sold 635,000 580,000
Selling and Administrative Expenses 50,000 35,000
Other Expenses (Interest Expense) 20,000 15,000
Income Tax 40,000 55,000
Prepare a horizontal analysis of the comparative income statement. (Round to one decimal place.) Use a multi-step income statement.
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina