E14-13 Horizontal analysis-income statement Data for Verifine Designs, Inc. follow:
E14-13 Horizontal analysis-income statementData for Verifine Designs, Inc. follow:Verifine Designs INC- Comparative Income Statement -Years ended December 31, 2011 and 201020112010Net sales revenue$428,950$371,000Expenses:Cost of goods sold$203,850$189,350Selling and general expenses99,35093,000Other expense6,7505,000Total expenses309,950287,350Cash and cash equivalents$119,000$83,650Requirements:1.Prepare a horizontal analysis of the comparative income statement of Verifine Designs Ince. Round percentage changes to the nearest one-tenth percent (three decimal places)2.Why did 2011 net income increase by a higher […]
