Question

0 Data Table ncome statem und the percentages to on McClane Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 d 2017 2017 D17 Net Sales Revenue $ 431,500 $ 373,750 373,750 Expenses: Cost of Goods Sold Selling and Administrative Expenses Other Expenses 187,000 91,050 2,150 280,200 204,000 100,250 7,450 311,700 119,800 $ 187,000 91,050 2,150 280,200 93,550 Total Expenses Net Income 93,550 Print Done Clear All

Answer 1

Requirement: 1 Mc Clane Designs, Inc Comparative Income Statement Year Ended December 31, 2018 and 2017 Increase ( Decrease) Amount Percentage 15.5% 2018 2017 Net Sales Revenue 57750 431500 373750 Expenses: Cost of goods sold Selling and Administrative Expenses Other Expenses Total Expenses 204000 9.1% 187000 17000 100250 91050 9200 10.1% 246.5% 7450 2150 5300 280200 11.2% 311700 31500 Net Income 119800 93550 26250 28.1% Requirement: 2 In the Year 2018 Net Income is increased by 28.1% and Net Sales revenue increased by 15.5%. The net income is increased higher than the net sales revenue because of decrease in expenses percentage in year 2018 as compare to 2017.