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Figure 16-6 London Company Provided the Following Income Statements for Its First

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Figure 16-6
London Company provided the following income statements for its first 3 years of operation:
Figure 16-6 London Company provided the following income statements for its first 3 years of operation:    -Refer to Figure 16-6. Prepare a horizontal analysis using Year 1 as the base year. Explain if the results are favorable or unfavorable.
-Refer to Figure 16-6. Prepare a horizontal analysis using Year 1 as the base year. Explain if the results are favorable or unfavorable.

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Year 1 is the base year. Therefore every...

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