Hall Corporation reported the following operating results for two consecutive years.

Required:

Compute the percentage changes in Hall Corporation's income statement components between the two years. (Negative answers shoud be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., 234 should be entered as 23.4.)

Hall Corporation
Income Statement
2014 2013 Percentage change
Sales $1,297,000 $1,001,000
Cost of Goods Sold 797,655 600,600
Gross margin 499,345 400,400
Operating expenses 302,000 198,000
Income before taxes 197,345 202,400
Income taxes 61,400 52,600
Net income (loss) $135,945 $149,800

Respuesta :

Answer:

                         2014 2013 %CHANGE

SALE           1297000 1001000      29.6%

COGS             797655 600600      32.8%

Gross margin     499345 400400       24.7%

operating expenses  302000 198000        52.5%

Income before tax  197345 202400        -2.5%

taxes                  61400     52600 16.7%

Net income              135945 149800 -9.2%

Explanation:

%change = (2014 - 2013)/2013

2014 and 2013 represent each line item in the income statement