Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question...
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Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. percentage answers to 1 decimal place. i.e., 0.234 should be entered as 23.4).) % Change % GIBSON COMPANY Horizontal Analysis of Income Statements Year 4 Year 3 Revenues Sales (net) $ 231,000 $ 210,100 Other revenues 8,700 6,400 Total revenues 239,700 216,500 Expenses Cost of goods sold 118,600 101,700 Selling, general, and administrative expenses 54,500 48,300 Interest expense 6,600 5,800 Income tax expense 21,000 20,000 Total expenses 200,700 175,800 Net income (loss) $ 39,000 $ 40,700 %
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