Comparative Information Taken from the Bergeron Company Financial Statements Is $\quad$

question 293

Essay

Comparative information taken from the Bergeron Company financial statements is shown below: $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ 2014 $\quad$$\quad$$\quad$$\quad$ 2013
(a) Accounts receivable $\quad$ $175,000 $\quad$$\quad$ $140,000
(b) Retained earrings $\quad$$\quad$ 30,000 $\quad$$\quad$$\quad$ (14,000)
(c) Sales revenue $\quad$$\quad$$\quad$ 855,000 $\quad$$\quad$$\quad$ 750,000
(d) Operating expenses $\quad$ 170,000 $\quad$$\quad$$\quad$ 200,000
(e) Income taxes pavable $\quad$ 11,000 $\quad$$\quad$$\quad$ 10,000 Instructions
Using horizontal analysis, show the percentage change from 2013 to 2014 with 2013 as the base year.

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Definitions:

Product

Any item or service offered by a firm that meets a need or desire of consumers.

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Brands developed and marketed by a retailer and available only from that retailer; also called store brands.

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Large retail establishments that offer a wide variety of merchandise under one roof, typically at lower prices.

Costco

A multinational corporation that operates a chain of membership-only warehouse clubs, known for offering bulk retail products at low prices.