The income statements for Anything Tennis for the years ending December 31, 2021 and 2020,...
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Accounting
The income statements for Anything Tennis for the years ending December 31, 2021 and 2020, 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.) ANYTHING TENNIS Income Statements For the Years Ended December 31 Increase (Decrease) Amount % $ Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income 2021 3,700,000 2,230,000 1,470,000 850,000 620,000 11,600 631,600 104,000 527,600 2020 2,780,000 1,420,000 1,360,000 662,000 698,000 6,800 704,800 148,000 556,800 $ $
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