Question

Data for Verfine Designs, Inc. follow Click the icon to view the data.) Read the recuirements Verifine Designs, Inc. Comparative Income Statement Years Ended December 31, 2018 and 2017 2018 Net Sales Revenue $ 432,000 $ 375,000 2017 $ 432.000 $ 373000 Cost of Goods Sold Selling and Administrative Expenses Other Expenses Total Expenses 204,950 97.000 8.350 186.250 92.550 5.000 1 Net Sales Revenue Εκρος: Cost of Goods Sold Soling and Administrative Expenses Other Expenses Total Expenses 204 950 97000 8.350 260 92.550 5.000 310300 283 800 $ 121,700 S 9,200 .000 Net Income 310.300 121.700$ $ 80.200 Requirement 2. Why did 2018 net income increase by a higher percentage than net Net Income

Answer 1

Answer

--Requirement 1

NOTE: % amount is rounded off to 2 decimal places. Round off it as per your requirement, or COMMENT BELOW.

	2018	2017	Amount	Percentage
	[A]	[B]	[C = A - B]	[D = (C/B) x 100
Net Sales revenue	$432,000	$373,000	$59,000	15.82%
Expenses:
Cost of Goods Sold	$204,950	$186,250	$18,700	10.04%
Selling & Admin expenses	$97,000	$92,550	$4,450	4.81%
Other expenses	$8,350	$5,000	$3,350	67.00%
Total Expenses	$310,300	$283,800	$26,500	9.34%
Net Income	$121,700	$89,200	$32,500	36.43%