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1.
2014 2013
Amount Amount Amount Percent
Sales 936,000$ 720,000$
Sales returns and allowances 26,000 20,000
Net sales 910,000$ 700,000$
Cost of goods sold 441,000 350,000
Gross profit 469,000$ 350,000$
Selling expenses 139,150$ 115,000$
Administrative expenses 99,450 85,000
Total operating expenses 238,600$ 200,000$
Income from operations 230,400$ 150,000$
Expenses and other:
Other income 65,000 50,000
Income before income tax 295,400$ 200,000$
Income tax expense 65,000 50,000
Net income 230,400$ 150,000$
2.
Increase (Decrease)
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MACKLIN INC.
Comparative Income Statement
For the Years Ended December 31, 2014 and 2013
Score:
Key Code:
Instructions
Problem 15(14)-1B
Name:
Section:
0%
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1.
2014 2013
Amount Amount Amount Percent
Sales 936,000$ 720,000$ 216,000$ 30.0%
Instructions
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Problem 15(14)-1B
Name:
Solution
Section:
For the Years Ended December 31, 2014 and 2013
MACKLIN INC.
Comparative Income Statement
Increase (Decrease)
ON
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Score:
