Use the following information to do a horizontal analysis of Boyer Corporation's income statement for the current year and prior year:
$\begin{array} { | l | l | l | }
\hline \text { Account } & \text { Current } & \text { Prior } \
\hline \text { Cost of goods sold } & \$ 341,600 & \$ 305,000 \
\hline \text { Selling/general expenses } & \$ 40,000 & \$ 32,000 \
\hline \text { Gross profit } & \$ 92,400 & \$ 84,000 \
\hline \text { Net income } & \$ 12,600 & \$ 12,000 \
\hline
\end{array}$

Question

Use the following information to do a horizontal analysis of Boyer Corporation's income statement for the current year and prior year:
$\begin{array} { | l | l | l | } 
\hline \text { Account } & \text { Current } & \text { Prior } \
\hline \text { Cost of goods sold } & \$ 341,600 & \$ 305,000 \
\hline \text { Selling/general expenses } & \$ 40,000 & \$ 32,000 \
\hline \text { Gross profit } & \$ 92,400 & \$ 84,000 \
\hline \text { Net income } & \$ 12,600 & \$ 12,000 \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of Use the following information to do a horizontal analysis of Boyer Corporation's income statement for the current year and prior year:
$\begin{array} { | l | l | l | } 
\hline \text { Account } & \text { Current } & \text { Prior } \
\hline \text { Cost of goods sold } & \$ 341,600 & \$ 305,000 \
\hline \text { Selling/general expenses } & \$ 40,000 & \$ 32,000 \
\hline \text { Gross profit } & \$ 92,400 & \$ 84,000 \
\hline \text { Net income } & \$ 12,600 & \$ 12,000 \
\hline
\end{array}$

Use the Following Information to Do a Horizontal Analysis of Boyer