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assi_1.xlsE15-13
| Accounting, 9e | ||||||
| E15-13 | Horizontal analysis - income statement | |||||
| LO 1 [10-15 minutes] | ||||||
| Students please fill-in areas that are shaded | ||||||
| Student Name | ||||||
| Course Name | ||||||
| Student ID: | ||||||
| Date: | ||||||
| Data for Mariner Designs, Inc., follow: | ||||||
| MARINER DESIGNS, INC. | ||||||
| Comparative Income Statement | ||||||
| Year Ended December 31, 2012 and 2011 | ||||||
| 2012 | 2011 | |||||
| Net sales revenue | $ 431,000 | $ 372,350 | ||||
| Expenses: | ||||||
| Cost of goods sold | $ 200,000 | $ 187,550 | ||||
| Selling and general expenses | 99,000 | 91,050 | ||||
| Other expense | 8,350 | 6,850 | ||||
| Total expense | $ 307,350 | $ 285,450 | ||||
| Net income | $ 123,650 | $ 86,900 | ||||
| Requirements | ||||||
| 1. | Prepare a horizontal analysis of the comparative income statement of Mariner | |||||
| Designs, Inc. Round percentage changes to one decimal place. | ||||||
| 2. | Why did 2012 net income increase by a higher percentage than net sales revenue? | |||||
| Test Your Knowledge | ||||||
| E15-13 | ||||||
| Req. 1 | ||||||
| MARINER DESIGNS, INC. | ||||||
| Comparative Income Statement | ||||||
| Year Ended December 31, 2012 and 2011 | ||||||
| INCREASE (DECREASE) | ||||||
| 2012 | 2011 | AMOUNT | PERCENT | |||
| Net sales revenue | $ 431,000 | $ 372,350 | ||||
| Expenses: | ||||||
| Cost of goods sold | $ 200,000 | $ 187,550 | ||||
| Selling and general expense | 99,000 | 91,050 | ||||
| Other expense | 8,350 | 6,850 | ||||
| Total expenses | 307,350 | 285,450 | ||||
| Net income | $ 123,650 | $ 86,900 | ||||
| Req. 2 |
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