The income statements for The Sports Warehouse for the years ending December 31, 2016, and 2015, are
Question:
Required:
1. Complete the Amount and % columns to be used in a horizontal analysis of The Sports Warehouses income statement.
2. Discuss the major fluctuations in income statement items during the year.
Transcribed Image Text:
The Sports Warehouse Income Statements For the Years Ended December 31 Increase (Decrease 2016 2015 Amount S4,700,000 S4,550,000 2.600.000 2.500,000 2,100,000 2,050,000 690,000 750.000 1.410,000 1.300,000 Other income (expense 40.000) (35.000) 1.370,000 1.265,000 400.000 370.000 S 970,000 S 895,000 Sales Cost of goods sold Gross profit Operating expenses Operating income Income before tax Income tax expense Net income
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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