McMann Company has a condensed income statement as shown::
$$\begin{array} { | l | l | l | }
\hline & \mathbf { 2 1 4 } & \mathbf { 2 0 1 3 } \
\hline \text { Sales } & \$ 150,000 & \$ 165,500 \
\hline \text { Total operating expenses } & 133,000 & 147,500 \
\hline \text { Net income } & 17,000 & 18,000 \
\hline & & \
\end{array}$$ Using horizontal analysis, calculate the amount and percent change for Sales. Round to one decimal place.
A) (17,000), (11.3%)
B) (15,500), (10.3%)
C) ($18,000), (10.9%)
D) ($15,500), (9.4%)

Question

McMann Company has a condensed income statement as shown::
$$\begin{array} { | l | l | l | } 
\hline & \mathbf { 2 1 4 } & \mathbf { 2 0 1 3 } \
\hline \text { Sales } & \$ 150,000 & \$ 165,500 \
\hline \text { Total operating expenses } & 133,000 & 147,500 \
\hline \text { Net income } & 17,000 & 18,000 \
\hline & & \
\end{array}$$ Using horizontal analysis, calculate the amount and percent change for Sales. Round to one decimal place.
A) (17,000), (11.3%)
B) (15,500), (10.3%)
C) ($18,000), (10.9%)
D) ($15,500), (9.4%)

Quizplus · Accepted Answer

The Answer of McMann Company has a condensed income statement as shown::
$$\begin{array} { | l | l | l | } 
\hline & \mathbf { 2 1 4 } & \mathbf { 2 0 1 3 } \
\hline \text { Sales } & \$ 150,000 & \$ 165,500 \
\hline \text { Total operating expenses } & 133,000 & 147,500 \
\hline \text { Net income } & 17,000 & 18,000 \
\hline & & \
\end{array}$$ Using horizontal analysis, calculate the amount and percent change for Sales. Round to one decimal place.
A) (17,000), (11.3%)
B) (15,500), (10.3%)
C) ($18,000), (10.9%)
D) ($15,500), (9.4%)

McMann Company Has a Condensed Income Statement as Shown Using Horizontal Analysis, Calculate the Amount and Percent Change for