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Category > Accounting Posted 17 May 2017 My Price 7.00

The income statement for Galaxy Tennis for the years ending December

The income statement for Galaxy Tennis for the years ending December 31, 2015 and 2014, is provided below.
Required:
1.

Complete the A????1AmountA????1 and A????1%A????1 columns to be used in a horizontal analysis of Galaxy Tennis's income statement. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)

  2015 2014 Amount %
Net Sales 5,940,000 6,110,000    
Cost of goods sold 2,780,000 2,885,000    
Gross profit 3,160,000 3,225,000    
Operating Expenses 1,475,000 1,362,000    
Operating Income 1,685,000 1,863,000    
Other Income 53,000 71,000    
Income before tax 1,738,000 1,934,000    
Income tax expense 376,000 428,000    
Net Income 1,362,000 1,506,000    

Answers

Alpha Geek
(8)
Status NEW Posted 17 May 2017 08:05 AM My Price 7.00

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file 1495010698-Answer.docx preview (183 words )
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