ACCOUNTING
Warren, Reeve and Duchac
Financial Accounting
Managerial Accounting
Carl Warren, James M. Reeve, Jonathan E. Duchac
Chapter 17
PR 17-1A For 2010, Wiglaf Technology Company reported its most significant decline in net income in years. At the end of the year, C.S. Lewis, the president, is presented with the following condensed comparative income statement:
Wiglaf Technology Company
Comparative Income Statement
For the Years Ended December 31, 2010 and 2009 AND SO ON
Instructions
1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2009 as the base year. Round to one decimal place.
2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).
Check: 1. Net sales 10.0% increase
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