Exercise 13-16A, Obj. 1
Student Name
Course Name
Student ID:
Date:
2016 2015
Total revenue ………………………………………… 836,000$ 938,000$
Expenses:
Cost of goods sold ………..……………….. 408,000$ 409,350$
Selling and general expenses ……………. 238,000 263,000
Interest expense …………………………….. 9,500 14,000
Income tax expense ……………….………. 79,000 85,750
Total expenses ……………….……………… 734,500 772,100
Net income …………….……………………..……… 101,500$ 165,900$
Comparative Income Statement
Years Ended December 31, 2016 and 2015
Connor Music Co.
Prepare a horizontal analysis of the comparative income statements of Connor Music Co. Round percentage
changes to the nearest one-tenth percent (three decimal places).
Financial Accounting
Students: Please fill-in areas that are shaded
light-yellow.
Perform horizontal analysis of an income statement
Exercise 13-16A
Instructions:
Complete the analysis below:
2016 2015 AMOUNT PERCENT
Total revenue …………………………………………….. 836,000$ 938,000$
Expenses:
Cost of goods sold………………………… 408,000$ 409,350$
Selling and general expenses………. 238,000 263,000
Interest expense…………………………. 9,500 14,000
Income tax expense…………………….. 79,000 85,750
Total expenses…………………………….. 734,500 772,100
Net income…………………………………………………. 101,500$ 165,900$
INCREASE (DECREASE)
Test Your Knowledge
Connor Music Co.
Horizontal Analysis of Comparative Income Statement
Years Ended December 31, 2016 and 2015
Exercise 13-16A, Obj. 1
Student Name
Course Name
Student ID:
Date:
2016 2015
Total revenue ………………………………………… 836,000$ 938,000$
Expenses:
Cost of goods sold ………..……………….. 408,000$ 409,350$
Selling and general expenses ……………. 238,000 263,000
Interest expense …………………………….. 9,500 14,000
Income tax expense ……………….………. 79,000 85,750
Total expenses ……………….……………… 734,500 772,100
Net income …………….……………………..……… 101,500$ 165,900$
Financial Accounting
Connor Music Co.
Comparative Income Statement
Years Ended December 31, 2016 and 2015
Prepare a horizontal analysis of the comparative income statements of Connor Music Co. Round percentage
changes to the nearest one-tenth percent (three decimal places).
Students: Please fill-in areas that are shaded
light-yellow.
Perform horizontal analysis of an income statement
BU 122 ID 500003
Exercise 13-16A
Instructions:
Complete the analysis below:
2016 2015 AMOUNT PERCENT
Total revenue …………………………………………….. 836,000$ 938,000$ (102,000)$ -10.9%
INCREASE (DECREASE)
Test Your Knowledge
Years Ended December 31, 2016 and 2015
Horizontal Analysis of Comparative Income Statement
Connor Music Co.
BU 122 ID 500003
Exercise 13-19A, Obj. 3
Student Name
Course Name
Student ID:
Date:
The data is repeated below for your convenience.
2016 2015
Total revenue ………………………………………... 836,000$ 938,000$
Expenses:
Cost of goods sold ……………………….… 408,000$ 409,350$
Selling and general expenses ……………. 238,000 263,000
Interest expense …………………………….. 9,500 14,000
Income tax expense ……………………….. 79,000 85,750
Total expenses ………………………………. 734,500 772,100
Net income …………………………….…………….. 101,500$ 165,900$
Exercise 13-19A
Instructions:
Complete the analysis below.
2016 2015
Total revenue……………………………………………………………………
Expenses:
Cost of goods sold…………………………………………………..
Selling and general expenses………………………………
Interest expense……………………………………………………
Income tax expense………………………………………………
Total expenses……………………………………………………..
Net income……………………………………………………………………..
Connor Music Co.
Comparative Common-Size Income Statement
Students: Please fill-in areas that are
shaded light-yellow.
Prepare a common-size income statement
Years Ended December 31, 2016 and 2015
Financial Accounting
Connor Music Co.
Prepare a comparative common-size income statement for Connor Music Co., using the 2016 and 2015 data
of Exercise 13-16A and rounding to four decimal places.
Comparative Income Statement
Years Ended December 31, 2016 and 2015
Test Your Knowledge
Solution 39406
Exercise 13-19A, Obj. 3
Student Name
Course Name
Student ID:
Date:
The data is repeated below for your convenience.
2016 2015
Total revenue ………………………………………… 836,000$ 938,000$
Expenses:
Cost of goods sold …………………………. 408,000$ 409,350$
Selling and general expenses ……………. 238,000 263,000
Interest expense …………………………….. 9,500 14,000
Income tax expense ……………………….. 79,000 85,750
Total expenses ………………………………. 734,500 772,100
Net income …………………………………………… 101,500$ 165,900$
Exercise 13-19A
Instructions:
Complete the analysis below.
2016 2015
Total revenue…………………………………………………………………… 100% 100.0%
Connor Music Co.
Comparative Common-Size Income Statement
Students: Please fill-in areas that are shaded
light-yellow.
Prepare a common-size income statement
Years Ended December 31, 2016 and 2015
Financial Accounting
Connor Music Co.
Prepare a comparative common-size income statement for Connor Music Co., using the 2016 and 2015 data of
Exercise 13-16A and rounding to four decimal places.
Comparative Income Statement
Years Ended December 31, 2016 and 2015
Test Your Knowledge
Exercise 13-27B, Obj. 1
Student Name
Course Name
Student ID:
Date:
2016 2015
Total revenue ………………………………………… 1,075,000$ 915,000$
Expenses:
Cost of goods sold …………………………. 475,000$ 406,250$
Selling and general expenses …..……….. 285,000 261,000
Interest expense …………………………….. 22,500 12,500
Income tax expense ……………………….. 104,500 82,150
Total expenses ………………………………. 887,000 761,900
Net income …………………………………………… 188,000$ 153,100$
Exercise 13-27B
Instructions:
Complete the analysis below:
2016 2015 AMOUNT PERCENT
Total revenue …………………………………………….. 1,075,000$ 915,000$
Expenses:
Cost of goods sold………………………… 475,000$ 406,250$
Selling and general expenses………. 285,000 261,000
Interest expense…………………………. 22,500 12,500
Income tax expense…………………….. 104,500 82,150
Total expenses…………………………….. 887,000 761,900
Net income…………………………………………………. 188,000$ 153,100$
INCREASE (DECREASE)
Comparative Income Statement
Years Ended December 31, 2016 and 2015
Test Your Knowledge
Mitchell Music Co.
Horizontal Analysis of Comparative Income Statement
Years Ended December 31, 2016 and 2015
Mitchell Music Co.
Financial Accounting
Prepare a horizontal analysis of the comparative income statements of Mitchell Music Co. Round
percentage changes to the nearest one-tenth percent (three decimal places).
Students: Please fill-in areas that are
shaded light-yellow.
Perform horizontal analysis of an income statement
Solution – Extra Problems 39406
Exercise 13-27B, Obj. 1
Student Name
Course Name
Student ID:
Date:
2016 2015
Total revenue ………………………………………… 1,075,000$ 915,000$
Expenses:
Cost of goods sold ………..……………….. 475,000$ 406,250$
Selling and general expenses ……………. 285,000 261,000
Interest expense …………………………….. 22,500 12,500
Income tax expense ……………………….. 104,500 82,150
Total expenses ………………………………. 887,000 761,900
Net income …………………………………………… 188,000$ 153,100$
Exercise 13-27B
Instructions:
Complete the analysis below:
2016 2015 AMOUNT PERCENT
Total revenue …………………………………………….. 1,075,000$ 915,000$ 160,000$ 17.5%
Perform horizontal analysis of an income statement
INCREASE (DECREASE)
Financial Accounting
Test Your Knowledge
Years Ended December 31, 2016 and 2015
Mitchell Music Co.
Comparative Income Statement
Years Ended December 31, 2016 and 2015
Horizontal Analysis of Comparative Income Statement
Mitchell Music Co.
Prepare a horizontal analysis of the comparative income statements of Mitchell Music Co. Round
percentage changes to the nearest one-tenth percent (three decimal places).
Students: Please fill-in areas that are shaded
light-yellow.
Expenses:
Exercise 13-30B, Obj. 3
Prepare a common-size income statement
Student Name
Course Name
Student ID:
Date:
The data is repeated below for your convenience.
2016 2015
Total revenue ………………………………………... 1,075,000$ 915,000$
Expenses:
Cost of goods sold ……………………….… 475,000$ 406,250$
Selling and general expenses ……………. 285,000 261,000
Interest expense …………………………….. 22,500 12,500
Income tax expense ……………………….. 104,500 82,150
Total expenses ………………………………. 887,000 761,900
Net income …………………………….…………….. 188,000$ 153,100$
Exercise 13-30B
Instructions:
Complete the analysis below.
2016 2015
Total revenue……………………………………………………………………
Expenses:
Cost of goods sold…………………………………………………..
Selling and general expenses………………………………
Interest expense……………………………………………………
Income tax expense………………………………………………
Total expenses……………………………………………………..
Net income……………………………………………………………………..
Prepare a comparative common-size income statement for Mitchell Music Co. using the 2016 and 2015 data
of Exercise 13-27B and rounding to four decimal places.
Students: Please fill-in areas that are
shaded light-yellow.
Years Ended December 31, 2016 and 2015
Financial Accounting
Mitchell Music Co.
Comparative Income Statement
Years Ended December 31, 2016 and 2015
Test Your Knowledge
Mitchell Music Co.
Comparative Common-Size Income Statement
Exercise 13-30B, Obj. 3
Prepare a common-size income statement
Student Name
Course Name
Student ID:
Date:
The data is repeated below for your convenience.
2016 2015
Total revenue ………………………………………… 1,075,000$ 915,000$
Expenses:
Cost of goods sold …………………………. 475,000$ 406,250$
Selling and general expenses ……………. 285,000 261,000
Interest expense …………………………….. 22,500 12,500
Income tax expense ……………………….. 104,500 82,150
Total expenses ………………………………. 887,000 761,900
Net income …………………………………………… 188,000$ 153,100$
Exercise 13-30B
Instructions:
Complete the analysis below.
2016 2015
Total revenue…………………………………………………………………… 100% 100.0%
Prepare a comparative common-size income statement for Mitchell Music Co. using the 2016 and 2015 data of
Exercise 13-27B and rounding to four decimal places.
Students: Please fill-in areas that are shaded
light-yellow.
Years Ended December 31, 2016 and 2015
Financial Accounting
Mitchell Music Co.
Comparative Income Statement
Years Ended December 31, 2016 and 2015
Test Your Knowledge
Mitchell Music Co.
Comparative Common-Size Income Statement
BU 122 ID 50003