Rapid retail comparative statement of income

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Reference no: EM13923681

Rapid Retail Comparative Statement of Income

December 31st Increase (Decrease)

(In thousands of dollars) 2011 2010 Dollars Percent

Net sales 30000 28000

Cost of goods sold 20000 19500

Gross Profit 10000 8500

Selling, general & Admin Exp 3000 2900

Operating Income 7000 5600

Interest expense 100 80

Income before taxes 6900 5520

Income tax expense 2000 1600

Net Income 4900 3920

Required:

a) complete the increase (decrease) in dollars and percent

b) comment on trends

Reference no: EM13923681

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