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Problem - According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 8.1 percent between 2012 and 2013.
Required: Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Computer Tycoon Inc. for the year ended December 31, 2013.
COMPUTER TYCOON, INC., Income Statements For the Year Ended December 31
2013
2012
Sales Revenue
$110,000
$135,000
Cost of Goods Sold
65,000
75,500
Gross Profit
45,000
59,500
Selling, General, and Administrative Expenses
37,000
39,000
Interest Expenses
600
525
Income before Income Tax Expense
7,400
19,975
Income Tax Expense
1,500
6,000
Net Income
$5,900
$13,975
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