Data for Nobell Inc. follow:
$$\begin{array} { l l l }
&2015 & 2014 \
\text { Net Sales }&\$ 850,000 &\$ 798,000\
\text { Cost of Goods Sold } & 635,000 & 580,000 \
\text { Sellingand Administrative Expenses } & 50,000 & 35,000 \
\text { Other Expenses } & 20,000 & 15,000 \
\text { Income Tax } & 40,000 & 55,000
\end{array}$$ Prepare a horizontal analysis of the comparative income statement of Nobell Inc. Round percentage changes to one decimal place. Please use a multiple step income statement.

Question

Data for Nobell Inc. follow:
 $$\begin{array} { l l l } 
 &2015  & 2014    \
\text { Net Sales }&\$ 850,000 &\$ 798,000\
\text { Cost of Goods Sold } & 635,000 & 580,000 \
\text { Sellingand Administrative Expenses } & 50,000 & 35,000 \
\text { Other Expenses } & 20,000 & 15,000 \
\text { Income Tax } & 40,000 & 55,000
\end{array}$$ Prepare a horizontal analysis of the comparative income statement of Nobell Inc. Round percentage changes to one decimal place. Please use a multiple step income statement.

Quizplus · Accepted Answer

The Answer of Data for Nobell Inc. follow:
 $$\begin{array} { l l l } 
 &2015  & 2014    \
\text { Net Sales }&\$ 850,000 &\$ 798,000\
\text { Cost of Goods Sold } & 635,000 & 580,000 \
\text { Sellingand Administrative Expenses } & 50,000 & 35,000 \
\text { Other Expenses } & 20,000 & 15,000 \
\text { Income Tax } & 40,000 & 55,000
\end{array}$$ Prepare a horizontal analysis of the comparative income statement of Nobell Inc. Round percentage changes to one decimal place. Please use a multiple step income statement.

Data for Nobell Inc Prepare a Horizontal Analysis of the Comparative Income Statement of }