An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1.
20Y2 20Y1
Amount Amount Amount Percent
Sales 16,800,000$ 15,000,000$
Cost of goods sold (11,500,000) (10,000,000)
Gross profit 5,300,000$ 5,000,000$
Selling expenses (1,770,000)$ (1,500,000)$
Administrative expenses (1,220,000) (1,000,000)
Total operating expenses (2,990,000)$ (2,500,000)$
Operating income 2,310,000$ 2,500,000$
Expenses and other:
Other revenue 256,950 225,000
2.
Increase (Decrease)
[Key essay answer here]
[Key code here]
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
McDade Company
Comparative Income Statement
For the Years Ended December 31, 20Y2 and 20Y1
Score:
Key Code:
Instructions
Problem 16-1A
Name:
Section:
0%
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1.
20Y2 20Y1
Amount Amount Amount Percent
Sales 16,800,000$ 15,000,000$ 1,800,000$ 12.0%
Cost of goods sold (11,500,000) (10,000,000) 1,500,000 15.0%
2.
Problem 16-1A
Name:
Solution
Section:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
Net income has declined from 20Y1 to 20Y2. Sales have increased by 12.0%; however, cost of goods sold has
For the Years Ended December 31, 20Y2 and 20Y1
McDade Company
Comparative Income Statement
Increase (Decrease)