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company a income statement for the years ended december 31 year increase (decrease) year 2 year 1 amount % net sales $17,900,000 $14,600,000 cost of goods sold 13,532,400 6,467,800 gross profit 4,367,600 8,132,200 operating expenses 1,360,400 992,800 depreciation expense 787,600 787,600 inventory write-down 35,800 loss (litigation) 1,270,900 219,000 income before tax 912,900 6,132,800 income tax expense 268,500 1,752,000 net income $644,400 $4,380,800

Respuesta :

Net Sales increased by $3,300,000, or 22.7%, from Year 1 to Year 2.

Cost of Goods Sold increased by $7,064,600, or 109.7%, from Year 1 to Year 2.

Gross Profit decreased by $3,764,600, or 46.3%, from Year 1 to Year 2.

Operating Expenses increased by $368,600, or 37.2%, from Year 1 to Year 2.

Depreciation Expense remained the same from Year 1 to Year 2.

Inventory Write-down decreased by $35,800 from Year 1 to Year 2.

Loss (Litigation) increased by $1,051,900, or 477.7%, from Year 1 to Year 2.

Income Before Tax decreased by $5,220,900, or 85.1%, from Year 1 to Year 2.

Income Tax Expense decreased by $1,483,500, or 84.7%, from Year 1 to Year 2.

Net Income decreased by $3,736,400, or 84.9%, from Year 1 to Year 2.

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