Comparative Statements for Kool Corporation Are Shown Below Calculate Trend Percentages for All Income Statement Amounts Shown and

question 174

Essay

Comparative statements for Kool Corporation are shown below:
$\begin{array}{c} \text { Kool Corporation}\\ \text { Comparative Income Statement}\\ \text { For the years ended December 31}\\\begin{array}{|l|c|c|c|}\hline & 2011 & 2010 & 2009 \\\hline \text { Sales } & \$ 14,800 & \$ 13,229 & \$ 13,994 \\\hline \text { Cost of goods sold } & 8,225 & 8,661 & 8,375 \\\hline \text { Gross profit } & 6,575 & 4,568 & 5,619 \\\hline \text { Operating expenses } & 3,664 & 3,576 & 3,487 \\\hline \text { Operating income } & \$ 2,911 & \$ 992 & \$2,132 \\\hline\end{array}\end{array}$
Calculate trend percentages for all income statement amounts shown and comment on the results.Use 2009 as the base year.

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Definitions:

Building Contractors

Businesses or individuals that oversee the construction of buildings or structures, managing materials, labor, and compliance with regulations.

Monthly Depreciation

The portion of the cost of a tangible fixed asset that is considered consumed or used up in the operations of a business each month.

Master Budget

An inclusive financial planning document that consolidates all individual budgets related to sales, cost of goods sold, operating expenses, assets, liabilities, and cash flows.

Product

Anything that can be offered to a market to satisfy the want or need of a customer.