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Question - Calculate the dollar amount and the percentage change for each account balance shown below. Then write a brief explanation of the impact of those changes on the equity of the business.
2019 2020
Sales 10000 14000
COGS (4400) (5600)
Gross Margin 5600 8400
Operating Ex. (2800) (3200)
Net Income 2800 5200
On 12/31/08, hire industries retain earning of $ 525,000 on its balance sheet, and it reported that it had $135,000 of net income during the year. On its pervious balance sheet at 12/31/07, the company had reported $445,000 of retained earning. No sh..
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