12 The Income statements for Galaxy Tennis for the years ending December 31, 2024 and 2023, are provided below.Required:1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of Galaxy Tennis Income statement. (Decreases shouldbe Indicated by a minus sign. Round your percentage answers to 1 decimal place.)Net salesCost of goods soldGross profitOperating expensesOperating incomeOther income (expense)Income before taxIncome tax expenseNet incomeGALAXY TENNISIncome StatementsFor the Years Ended December 312024$20236,410,0002,960,0003,450,0001.422,0002,028,000101,0002,129,0006,350,000 S2,930,0003,420,0001,550,0001,870,00068,0001,938,000406,000443,000BELOST S 1,532,000 $ 1,686,000Increase (Decrease)Amount%

Horizontal analysis is helps to measure of a company's financial statements over a number of…

The Income statements for Galaxy Tennis for the years ending December 31, 2024 and 2023, are provided below. Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of Galaxy Tennis Income statement. (Decreases should ur clan Round your percentage answers to 1 decimal place.)

The Income statements for Galaxy Tennis for the years ending December 31, 2024 and 2023, are provided below. Required: 1. Complete the "Amount" and "%" columns to be used in a horizontal analysis of Galaxy Tennis Income statement. (Decreases should ur clan Round your percentage answers to 1 decimal place.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 12PB: The following is the adjusted trial balance data for Elm Connections as of December 31, 2019. A. Use...

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