Complete exercises ED-15, ED-16, ED-20, ED-21, and Comprehensive Problem D from the textbook. Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.

ED-15 Performing horizontal analysis—income statement

Data for Mariner Designs, Inc. follow:

ED-15 Performing horizontal analysis—income statement

Data for Mariner Designs, Inc. follow:

Learning Objective 2

1. Net Income 42.3%

>

8,350

$ 431,000 $ 372,350

187,550

91,050

6,850

2015

285,450

2014

MARINER DESIGNS, INC.

Comparative Income Statement

Years Ended December 31, 2015 and 2014

Net Sales Revenue

Expenses:

Cost of Goods Sold

Selling and Administrative Expenses

Other Expenses

Total Expenses

Net Income

307,350

$ 123,650 $ 86,900

200,000

Requirements

1. Prepare a horizontal analysis of the comparative income statement of Mariner