Question

Calculator Show Me How Office 365 Two income statements for Paragon Company follow: Paragon Company Income Statements For the Years Ended December 31 2049 20Y8 Fees earned $1,377,000 $1,170,000 Expenses (1,033,000) (930,000) Net Income $344,000 $240,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. TH Open spreadsheet Prepare a horizontal analysis of Paragon Company's income statements. Round your answers for monetary values to the nearest dollar and for percentage values to one decimal place. Paragon Company Income Statements For the Years Ended December 31 Increase/(Decrease) 2019 20Y8 Amount Percent $1,377,000 $1,170,000 $ (1,033,000) (930,000) $344,000 $240,000 $ Yo % Fees earned Expenses % Net income Ned

Answer 1

Paragon Company Income statements for the years Ended December 31 Increase/(Decrease) 2049 2048 Amount Percent fees earned $ 1,377,000 $1170,000 $207,000 17.7 % Expenses $ (1,033,000) $ (930,000) $ (103,000) (11.1) % Net Income $ 344,000 $ 240,000 $ 104,000| 43.3 % Calculation: Increase (Decrease) = this year Item Amount = Previous Year Items Amount こと fees earned = $1,377,000 - $1,1970,000 = $207,600 & Expenses $(1,033,000) – $(930,000) = $(03,000) Net Income $ 344,000 $240,000 = $104,000 Percent = (Increase (Decrease) Amount & Base Year Amount) fees earned = ($ 207,000 = $ 1,170,000) x 100 = 17.7 % Expenses = ($(103,000) = $1930,000) X100 =(11.1) % Net Income = ($104,000 + $ 240,000) x 100 x 43.3% XIoo