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Data for Atlantis Inc Prepare a Horizontal Analysis of the Comparative Income Statement of l

question 70

Essay

Data for Atlantis Inc. follow:
$Data for Atlantis Inc. follow: Expenses: \begin{array} { l l l } \text { Cost of Goods Sold } & 245,000 & 220,000 \\ \text { Sellingand Administrative Expenses } & 100,000 & 96,000 \\ \text { Cther Expenseg(Interedt Expense) } & 12,000 & 9,000 \\ \text { Income Tax Expense } &\underline{ 58,000}&\underline{ 47,00000 }& \\ \text { Total Expenses } &\underline{\$ 415,000 }&\underline{ \$ 372,000} \\ \text { Net Income } & \$ 135,000 & \$ 128,000 \end{array} Prepare a horizontal analysis of the comparative income statement of Atlantis Inc. Round percentage changes to one decimal place. Use a multiple step format for the income statement.$ Expenses:
$\begin{array} { l l l } \text { Cost of Goods Sold } & 245,000 & 220,000 \\\text { Sellingand Administrative Expenses } & 100,000 & 96,000 \\\text { Cther Expenseg(Interedt Expense) } & 12,000 & 9,000 \\\text { Income Tax Expense } &\underline{ 58,000}&\underline{ 47,00000 }& \\\text { Total Expenses } &\underline{\$ 415,000 }&\underline{ \$ 372,000} \\\text { Net Income } & \$ 135,000 & \$ 128,000\end{array}$ Prepare a horizontal analysis of the comparative income statement of Atlantis Inc. Round percentage changes to one decimal place. Use a multiple step format for the income statement.

Definitions:

Administrative Process

The procedure used by administrative agencies in fulfilling their three basic functions: rulemaking, enforcement, and adjudication.

Course Of Employment

Activities performed by an employee within the scope of their job duties or as authorized by their employer.

Family And Medical Leave Act

A U.S. federal law requiring covered employers to provide employees with job-protected and unpaid leave for qualified medical and family reasons.

Health-Care Coverage

A contract by which an insurance company agrees to cover part or all of a person's medical expenses in exchange for a premium.