Income statements for Campbell Company for Year 3 and Year 4 follow:CAMPBELL COMPANYIncome StatementsYear 4Year 3$180,800120,40019,90014,500Sales$200,800Cost of goods soldSelling expensesAdministrative expensesInterest expenseTotal expenses142,40021,90012,5003,900$180,7005,900$160,70020,1003,700Income before taxes20,100Income taxes expense6,500Net income$ 13,600$ 16,400Requireda. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4.b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.Complete this question by entering your answers in the tabs below.Required ARequired BPerform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234should be entered as 23.4).)CAMPBELL COMPANYHorizontal Analysis of Income StatementsPercentage Changeover Year 3Sales11.0 %K Prey1 of 6Next >MacBook Air888F2F3F4F5F7F82#$&34689ERYDFGHK Requireda. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.Complete this question by entering your answers in the tabs below.Required ARequired BPerform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234should be entered as 23.4).)CAMPBELL COMPANYHorizontal Analysis of Income StatementsPercentage Changeover Year 3Sales11.0 %Cost of goods sold18.3Selling expenses10.0Administrative expensesInterest expenseTotal expensesIncome before taxesIncome taxes expenseNet income (loss)< Required ARequired B >< Prey1 of 6 ENext >MacBook Air80888F3F4F5F7FBF9#32$&234678WERYSFHJ KC* 00B>

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Description: Income statements for Campbell Company for Year 3 and Year 4 follow:CAMPBELL COMPANYIncome StatementsYear 4Year 3$180,800120,40019,90014,500Sales$200,800Cost of goods soldSelling expensesAdministrative expensesInterest expenseTotal expenses142,40021

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Income statements for Campbell Company for Year 3 and Year 4 follow: CAMPBELL COMPANY Income Statements Year 4 Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses $200,800 142,400 21,900 12,500 3,900 $180,700 20,100 6,500 $ 13,600 $180,800 120,400 19,900 14,500 5,900 $160,700 20,100 Income before taxes Income taxes expense 3,700 $ 16,400 Net income Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

Income statements for Campbell Company for Year 3 and Year 4 follow: CAMPBELL COMPANY Income Statements Year 4 Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses $200,800 142,400 21,900 12,500 3,900 $180,700 20,100 6,500 $ 13,600 $180,800 120,400 19,900 14,500 5,900 $160,700 20,100 Income before taxes Income taxes expense 3,700 $ 16,400 Net income Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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