The income statements for Anything Tennis for the years ending December 31, 2018 and 2017,...
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Accounting
The income statements for Anything Tennis for the years ending December 31, 2018 and 2017, are provided below. Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of the income statements for Anything Tennis. (Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income ANYTHING TENNIS Income Statements For the Years Ended December 31 Increase (Decrease) 2018 2017 Amount % $ 3,750,000 $ 2,820,000 2,250,000 1,430,000 1,500,000 1,390,000 860,000 670,000 640,000 720,000 12,000 7,000 652,000 727,000 105,000 150,000 547,000 $ 577,000
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