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Data for Sherman,Inc Prepare a Horizontal Analysis of the Comparative Income Statement of }

Question 40

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Data for Sherman,Inc.are as follows:
20172016 Net Sales $850,000$798,000 Cost of Goods Sold 635,000580,000 Selling and Administrative Expenses 50,00035,000 Other Expenses 20,00015,000 Income Tax 40,00055,000\begin{array} { l l l } & \underline { 2017 } & \underline { 2016 } \\\text { Net Sales }& \$ 850,000 & \$ 798,000 \\ \text { Cost of Goods Sold } & 635,000 & 580,000 \\\text { Selling and Administrative Expenses } & 50,000 & 35,000 \\\text { Other Expenses } & 20,000 & 15,000 \\\text { Income Tax } & 40,000 & 55,000\end{array} Prepare a horizontal analysis of the comparative income statement of Sherman,Inc.(Round to one decimal place. )Use a multi-step income statement.

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