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    Neferthiti987's Avatar
    Neferthiti987 Posts: 2, Reputation: 1
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    #1

    Aug 8, 2010, 05:26 AM
    Comparative INcome Statement
    For 2010 Technology company initiate a sales promotion campaign that included the expenditure of an additional $20,000 for advertising. At the end of the year George Wallace, the president with the following condensed comparative statement

    O there Technology company
    Comparative income statement
    For the years ended December31, 2010 and 2009
    2010 2009
    Sales... $741.000 $612,000
    Sales returns and allowances... 14,000 12,000
    Net sales... $700,000 $600,000
    Cost of good sold... $322,000 $312,000
    Gross Profit... $378,000 $288,000
    Selling expenses... $154,000 $120,000
    Administrative expenses... 70,000 66,000
    Total operating expenses... $224,000 $186,000
    Income from operation... $154,000 $102,000
    Other Income... 28,000 24,000
    Income before income tax... $182,000 $126,000
    Income tax... 70,000 60,000
    Net Income... $112,000 $ 66,000
    1.Prepare comparative income statement for two year period, presenting and analysis of each item in relationship to net sales for each of the years. Round to one decimal place.
    2. To the extend the data permit, comment on the significant relationships reveled by vertical analysis prepared in (1)
    Neferthiti987's Avatar
    Neferthiti987 Posts: 2, Reputation: 1
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    #2

    Aug 9, 2010, 04:49 PM

    Could you please tell me the answer comparative statement for other technology for the percentage for 2009 and 2010
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    Aug 10, 2010, 08:12 PM

    We don't just "tell you answers" to your work around here. We help you to understand it, not just do it for you. Please read our guidelines for posting homework:
    https://www.askmehelpdesk.com/financ...-b-u-font.html

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