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1.
20Y2 20Y1
Amount Amount Amount Percent
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)$
Income before income tax expense 295,400$ 200,000$
Income tax expense (65,000) (50,000)
Net income 230,400$ 150,000$
2.
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Problem 16-1B
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0%
Increase (Decrease)
[Key essay answer here]
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Macklin Inc.
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
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1.
20Y2 20Y1
Amount Amount Amount Percent
2.
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Score:
For the Years Ended December 31, 20Y2 and 20Y1
Macklin Inc.
Comparative Income Statement
Increase (Decrease)
Instructions
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ON
Problem 16-1B
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Solution
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