Data for Kalil,Inc $$\begin{array} { l l l } & 2017 & 2016 \\\text { Net Sales Revenue } & \$ 550,000 & \$ 500,000\end{array}$$

question 139

Essay

Data for Kalil,Inc.follows:
Kalil, Inc.
Comparative Income Statement
Years Ended Dec. 31, 2017 and 2016 $$\begin{array} { l l l } & 2017 & 2016 \\\text { Net Sales Revenue } & \$ 550,000 & \$ 500,000\end{array}$$ Expenses:
$\begin{array}{lll}\text { Cost of Goods Sold } & 245,000 & 220,000 \\\text { Selling and Administrative Expenses } & 100,000 & 96,000 \\\text { Other Expenses (Interest Expense) } & 12,000 & 9,000 \\\text { Income Tax Expense } & \underline{58,000} & \underline{47,000} \\\text { Total Expenses } & \underline{\$ 415,000} & \underline{\$ 372,000} \\\text { Net Income } & \$ 135,000 & \$ 128,000\end{array}$
Prepare a horizontal analysis of the comparative income statement of Kalil,Inc.(Round to one decimal place. )Use a multi-step format for the income statement.

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Definitions:

Inequality/Equality

Concepts referring to the state or quality of being unequal or equal, respectively; often used in contexts ranging from mathematics to social sciences.

Production Rates

The speed at which goods are manufactured or produced within a specified timeframe.

Painting Department

The painting department within a manufacturing or production setting is the section responsible for applying paint and coatings to products as part of the finishing process.

Solver

In mathematics and computing, a solver is an algorithm or program that finds the solution to a problem or equation.