PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the
Current year (versus Previous year) Current Year Previous Year
Amount Percentage Income Statement Sales Revenue $120,000 $106,000
% Cost of Goods Sold 54,000 49,000 Gross Profit 66,000 57,000
Operating Expenses 41,000 35,500 Interest Expense 5,000 5,000
Income before Income Tax Expense 20,000 16,500 Income Tax Expense
(30%) 6,000 4,950 Net Income $14,000 $11,550 % Balance Sheet Cash
$77,900 $43,000 % Accounts Receivable, Net 19,000 10,000 Inventory
26,000 40,000 Property and Equipment, Net...