McMann Company Has a Condensed Income Statement as Shown Using Horizontal Analysis,calculate the Amount and Percent Change for Sales

question 21

Multiple Choice

McMann Company has a condensed income statement as shown::
$\begin{array}{|l|l|l|}\hline & \mathbf{2 0 1 4} & \mathbf{2 0 1 3} \\\hline \text { Sales } & \$ 198,000 & \$ 165,500 \\\hline \text { Total operating expenses } & 163,000 & 147,500 \\\hline \text { Net income } & 35,000 & 18,000 \\\hline\end{array}$
Using horizontal analysis,calculate the amount and percent change for Sales.Round to one decimal place.

• A)$32,500,19.6%
• B)$18,000,10.9%
• C)$35,000,17.7%
• D)$17,000,9.4%

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Definitions:

Empowering Employees

The practice of giving employees the autonomy, authority, and encouragement to make decisions and contribute to the company's success.

Customer Collaboration

A business approach that involves working closely with customers to understand their needs and develop products, services, or solutions that meet these needs.

Henry Fayol

A French engineer and management theorist best known for developing a general theory of business administration and identifying 14 principles of management.

Specialization of Labor

The division of work into specific tasks, with each worker focusing on a particular task to increase efficiency and expertise.