Question: Prepare a comparative income statement for J&S Toy Store for the years ended - December 31, 2010 and 2011 based on the following information J&S

Prepare a comparative income statement for J&S Toy Store for the years ended - December 31, 2010 and 2011 based on the following information J&S Toy Store 2011 2010 Sales P1,650,000.00 P1,350,000.00 Returns 11,000 12,000 Purchases 800,000 650,000 Salary and benefits 250,000 180,000 Rent and Utilities 50,000 45,000 Advertising 48,000 30,000 Depreciation 15,000 10,000 Equipment and Supply 20,000 15,000 Administrative 19,500 17,500 Interest Income 25,000 24,000 Interest Expense 20,000 15,000 Income Taxes 42,000 38,000 Find the amount and percent of change. Round off percents to two decimal places

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