Solved

Complete the Following Horizontal Analysis Comparative Income Statements of Websters

Question 36

Essay

Complete the following horizontal analysis comparative income statements of Websters Corporation.
Websters CorporationComparative Income StatementsFor the Years Ended December 31, Years 1 and 2Net SalesExpenses:Cost of Goods SoldOperating ExpenseInterest ExpenseIncome Tax ExpenseTotal ExpensesNet Income Year 2$75,000$36,00017,0002,5001,900$57,400$17,600$ Year 1 $50,000$30,0009,0001,8001,400$42,2007,800Amt. of ChangePercent of Change\begin{array}{c}\text {Websters Corporation}\\\text {Comparative Income Statements}\\\text {For the Years Ended December 31, Years 1 and 2}\\\\\begin{array}{lll}\\\\\text {Net Sales}\\\text {Expenses:}\\\text {Cost of Goods Sold}\\\text {Operating Expense}\\\text {Interest Expense}\\\text {Income Tax Expense}\\\text {Total Expenses}\\\text {Net Income}\end{array}\begin{array}{r}\\\text { Year } 2 \\\$ 75,000 \\\\\$ 36,000 \\17,000 \\2,500 \\\underline{1,900} \\\$ 57,400 \\\$ 17,600 \$\end{array}\begin{array}{r}\\\text { Year 1 } \\\$ 50,000 \\\\\$ 30,000 \\9,000 \\1,800 \\\underline{1,400 }\\\$ 42,200 \\7,800 \end{array}\begin{array}{c}\text {Amt. of}\\\text { Change}\\\underline{\quad\quad}\\\\\underline{\quad\quad}\\\underline{\quad\quad}\\\underline{\quad\quad}\\\underline{\quad\quad}\\\underline{\quad\quad}\\\underline{\quad\quad}\\\end{array}\begin{array}{c}\text {Percent of}\\\text { Change}\\\underline{\quad\quad}\\\\\underline{\quad\quad}\\\underline{\quad\quad}\\\underline{\quad\quad}\\\underline{\quad\quad}\\\underline{\quad\quad}\\\underline{\quad\quad}\\\end{array}\end{array}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents