Comparative statements for Kool Corporation are shown below:
Calculate trend percentages for all income statement amounts shown and comment on the results. Use 2012 as the base year.
Definitions:
Punitive Damages
Financial compensation awarded to a plaintiff, over and beyond the actual damages incurred, to punish the defendant for egregious or malicious conduct.
Plaintiff
An individual or entity that brings a lawsuit against another in a court of law.
Breach of Contract
The failure of one party to fulfill the terms of a contract without lawful excuse.
Incidental Damages
Additional costs incurred as a consequence of a breach of contract, beyond the direct damages or loss.
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