Horizontal analysisEason Corporation reported the following operating results for two cons
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Horizontal analysis
Eason Corporation reported the following operating results for two consecutive years.
2007
2006
Percentage Change
Sales
$1,250,000
$1,000,000
Cost of Goods Sold
750,000
600,000
Gross Margin
500,000
$ 400,000
Operating Expenses
300,000
200,000
Income before Taxes
200,000
$ 200,000
Income Taxes
Net Income61,000
$ 139,00053,000
$ 147,000
Required
a. Compute the percentage changes in Eason Corporation’s income statement components between the two years.
b. Comment on apparent trends revealed by the percentage changes computed in Requirement a.
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