Data for Nobell Inc Prepare a Horizontal Analysis of the Comparative Income Statement of }

question 46

Essay

Data for Nobell Inc. follow:
$$\begin{array} { l l l } &2015 & 2014 \\\text { Net Sales }&\$ 850,000 &\$ 798,000\\\text { Cost of Goods Sold } & 635,000 & 580,000 \\\text { Sellingand Administrative Expenses } & 50,000 & 35,000 \\\text { Other Expenses } & 20,000 & 15,000 \\\text { Income Tax } & 40,000 & 55,000\end{array}$$ Prepare a horizontal analysis of the comparative income statement of Nobell Inc. Round percentage changes to one decimal place. Please use a multiple step income statement.

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Definitions:

Second Marriage

A second marriage refers to the act of getting married again after a previous marriage has ended, either through divorce or the death of a spouse.

Divorced Adults

Divorced adults are individuals who have legally dissolved their marriage, requiring adjustment to changes in family dynamics, living arrangements, and lifestyle.

Joint Costs

Costs incurred during the production process that are shared among two or more products.

Allocating Joint

The process of distributing joint costs to different products or departments that share common processes or resources.