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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$450,560$392,530
Expenses:  
Cost of Goods Sold201,370189,560
Selling & Admin, Exp.119,810113,640
Other Expense8,2602,420
Total Expenses329,440305,620
Net Income$121,120$86,910

 

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