Week Seven Assignment

Week Seven Assignment - HARRISON/HORNGREN FINANCIAL...

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HARRISON/HORNGREN, FINANCIAL ACCOUNTING 6E Exercise 13-2 Name Anthony Arostegui Section ACCT 212 A B C D E F G H 5 CPA Tech, Inc. 6 Horizontal Analysis of Comparative Income Statement 7 For the Years Ended December 31, 2006 and 2005 8 9 Increase (Decrease) 10 2006 2005 Amount % 11 Total revenues $430,000 $373,000 $57,000 15.3% 12 Expenses: 13 Cost of goods sold 202,000 188,000 $14,000 7.4% 14 Selling and general expenses 98,000 93,000 $5,000 5.4% 15 Interest expense 10,000 4,000 $6,000 150.0% 16 Income tax expense 42,000 37,000 $5,000 13.5% 17 Total expenses 352,000 322,000 $30,000 9.3% 18 Net income $78,000 $51,000 $27,000 52.9% 19 20 The net income in 2006 gain a higher percentage than total revenue because there was and 21 15.3% revenue increase. While total expenses received 9.3%. 22 23 48 End of Problem
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Exercise 13-5 Name Anthony Arostegui Section ACCT 212 A B C D E F G H 5 Data Input Section: 6 CPA Tech, Inc. 7
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Week Seven Assignment - HARRISON/HORNGREN FINANCIAL...

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