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For 20Y2, McDade Company reported a decline in...

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Accounting

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For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20r1 as the base year, Round percentages to one decimal place. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in ( 1 )

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