09-05Ex_5e

09-05Ex_5e - Amount Amount Amount Percent Sales $196,000...

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Exercise 9-5 Name: Section: Score: 0% Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer. a. GRENDEL IMAGES COMPANY Comparative Income Statement For the Years Ended December 31, 2010 and 2009 2010 2009 Increase (Decrease)
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Unformatted text preview: Amount Amount Amount Percent Sales $196,000 $160,000 Cost of goods sold 170,100 140,000 Gross profit $25,900 $20,000 Selling expenses $12,200 $10,000 Administrative expenses 9,750 8,000 Total operating expenses $21,950 $18,000 Income before income tax $3,950 $2,000 Income tax expense 2,000 1,000 Net income $1,950 $1,000 b. Instructions...
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This note was uploaded on 05/02/2011 for the course ACC 121 taught by Professor Thomas during the Spring '08 term at Baker MI.

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09-05Ex_5e - Amount Amount Amount Percent Sales $196,000...

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