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Question 1

Data for Renee's Designs, Inc. follow:

Renee's Designs
Comparative Income Statement
Years Ending December 31, 2020 and 2019
Account20202019
Net Sales Revenue$450,310$392,990
Expenses:  
Cost of Goods Sold200,840187,410
Selling & Admin, Exp.118,990111,830
Other Expense7,9702,720
Total Expenses327,800301,960
Net Income$122,510$91,030

 

Prepare a horizontal analysis of the comparative income statement of Renee's Designs.

Note: When inputting a percentage value, do not include the % symbol, and round your answer to two decimal places (e.g., 50.35).

Renee's Designs
Comparative Income Statement
Years Ending December 31, 2020 and 2019
Increase (Decrease)
20202019AmountPercentage
Net Sales Revenue
Expenses:
Cost of Goods Sold
Selling & Admin, Exp.
Other Expense
Total Expenses
Net Income