Reference no: EM132787293

Question - Create horizontal analysis of the following comparative income statement for Westwind Corporation. Round percentage changes to the nearest one-tenth percent.

Westwind Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015

2016 2015

Total revenue $1,400,000 $1,250,000

Expenses:

Cost of goods sold 925,000 $830,000

Operating expenses 313,000 280,000

Interest expense 14,000 12,000

Income tax expense 48,300 38,000

Total expenses $1,300,300 $1,160,000

Net Income $99,700 $90,000