Problem 12-16 Name:
Enter the appropriate formulas in the shaded (gray) cells.
An asterisk (*) will appear in the column to the right of an incorrect answer.
Increase/ Percentage
Year 2 Year 1 Decrease Change
Sales 700,000$ 650,000$ 50,000$ 7.7%
Cost of goods sold 500,000 455,000 45,000 9.9%
Gross profit 200,000$ 195,000$ 5,000$ 2.6%
Operating expenses:
Instructor
Martha’s Miscellaneous Comparative Statements of Income and Retained Earnings
Insurance 30,000 29,000 1,000 3.4%
Rent 18,000 18,000 – 0.0%
Depreciation 35,000 15,000 20,000 133.3%
Total operating expenses 133,000$ 104,250$ 28,750$ 27.6%
Operating income 67,000$ 90,750$ (23,750)$ -26.2%
Net income before taxes 135,000$ 135,750$ (750)$ -0.6%
Income tax expense 40,000 40,250 (250) -0.6%