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Q1) Revenue and expense data for Malden Company are given below: 

 

2006

2005

Administrative expenses

$ 37,000

$ 20,000

Cost of goods sold

400,000

320,000

Income tax

40,000

32,000

Net sales

900,000

700,000

Selling expenses

190,000

110,000

(a) Make a comparative income statement, with vertical analysis, stating each item for both 2006 and 2005 as percent of sales. 

b) Comment upon important changes revealed by comparative income statement.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916946

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