Richardson Company has a condensed income statement as shown. $$\begin{array} { | l | l | l | }
\hline & \text { Year 2 } & \text { Year 1 } \
\hline \text { Sales } & \$ 150,000 & \$ 165,500 \
\hline \text { Total operating expenses } & 133,000 & 147,500 \
\hline \text { Net income } & 17,000 & 18,000 \
\hline
\end{array}$$ 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

Richardson Company has a condensed income statement as shown. $$\begin{array} { | l | l | l | } 
\hline & \text { Year 2 } & \text { Year 1 } \
\hline \text { Sales } & \$ 150,000 & \$ 165,500 \
\hline \text { Total operating expenses } & 133,000 & 147,500 \
\hline \text { Net income } & 17,000 & 18,000 \
\hline
\end{array}$$ 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 Richardson Company has a condensed income statement as shown. $$\begin{array} { | l | l | l | } 
\hline & \text { Year 2 } & \text { Year 1 } \
\hline \text { Sales } & \$ 150,000 & \$ 165,500 \
\hline \text { Total operating expenses } & 133,000 & 147,500 \
\hline \text { Net income } & 17,000 & 18,000 \
\hline
\end{array}$$ 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%)

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