Solution-Prepare an income statement in comparative form

Prepare an income statement in comparative form

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Reference no: EM132684275

Problem - Vertical analysis of income statement - Revenue and expense data for Mandell Technologies Co. are as follows:

	2012	2011
Sales	$800,000	$740,000
Cost of goods sold	504,000	407,000
Selling expenses	120,000	140,600
Administrative expenses	128,000	125,800
Income tax expense	33,600	48,100

Required -

a. Prepare an income statement in comparative form, stating each item for both 2012 and 2011 as a percent of sales. Round to one decimal place.

b. Comment on the significant changes disclosed by the comparative income statement.

Reference no: EM132684275

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Prepare an income statement in comparative form

Reference no: EM132684275

Reference no: EM132684275

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