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  3. the income statements for company a for year 2 and

The income statements for Company A for Year 2 and Year 1 are presented below....

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Accounting

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The income statements for Company A for Year 2 and Year 1 are presented below. Required: Prepare a horizontal analysis for Year 2 using Year 1 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.) COMPANY A Income Statement For the Years Ended December 31 Year Increase (Decrease) Amount % Net sales $ $ Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Year 2 19,300,000 12,969,600 6,330,400 1,737,000 1,119,400 308,800 1,640,500 1,524,700 Year 1 16,000,000 7,312,000 8,688,000 1,312,000 1,119,400 384,000 Income tax expense 559,700 965,000 5,872,600 2,144,000 3,728,600 Net income $ $

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