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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 35
Horizontal analysis of income statement
For 20Y2, Macklin Inc, reported a significant increase in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement:
Instructions
1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. (Round percentages to one decimal place.)
2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).
For 20Y2, Macklin Inc, reported a significant increase in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement:
Instructions
1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. (Round percentages to one decimal place.)
2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).
Explanation
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Verified
Horizontal Analysis
Comparative income ...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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