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Business, 23.01.2020 22:31 Thevilqueen2857
Ncome statement data for winthrop company for two recent years ended december 31 are as follows: current year previous year
sales $2,280,000 $2,000,000
cost of goods sold 1,960,000 1,750,000
gross profit $320,000 $250,000
selling expenses $156,500 $125,000
administrative expenses 122,000 100,000
total operating expenses $278,500 $225,000
income before income tax $41,500 $25,000
income tax expense 16,600 10,000
net income $24,900 $15,000
prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. (round percentages to one decimal place.)
what conclusions can be drawn from the horizontal analysis?
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