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h68401696_669154300219681_9153629443074293760_n.jpg

How do I

complete the amount and % columns to be used in a horizontal analysis of the income statement?

68401696_669154300219681_9153629443074293760_n.jpg

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)
2021
2020
Amount
%
Net sales
$ 3,750,000
$ 2,820,000
Cost of goods sold
2,250,000
1,430,000
Gross profit
1,500,000
1,390,000
Operating expenses
860,000
670,000
Operating income
640,000
720,000
Other income (expense)
12,000
7,000
Income before fax
652,000
727,000
Income tax expense
105,000
150,000
Net income
S
547,000 $
577,000

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Screen Shot 2019-08-04 at 6.27.14 PM.png

A
C
D
E
H
2021
2020 $ Change
% change
2
Net Sales
$ 3,750,000.00
$ 2,820,000.00
$ 930,000.00
32.98%
3 Cost of goods
$ 2,250,000.00
$ 1,430,000.00
$ 820,000.00
57.34%
4
Gross profit
$ 1,500,000.00
$...

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