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Income statements for Benson Company for 2018 and 2019 follow: BENSON COMPANY Income Statements 2019 2018...

Income statements for Benson Company for 2018 and 2019 follow: BENSON COMPANY

Income Statements 2019 2018

Sales $ 201,800 $ 181,800

Cost of goods sold 142,800 120,800

Selling expenses 21,500 19,500

Administrative expenses 12,800 14,800

Interest expense 3,300 5,300

Total expenses $ 180,400 $ 160,400

Income before taxes 21,400 21,400

Income taxes expense 6,500 3,600

Net income $ 14,900 $ 17,800

Required Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019.

Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

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Note: Final percentages rounded to 1 decimal as it is not mentioned in the question.

ekkarill92 answered 2 years ago
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