question the income statements for urban outfits inc are presentedbelow urban outfit 4282827

Question

The income statements for Urban Outfits, Inc. are presentedbelow

Urban Outfits, Inc.

Income Statements

Year Ended December 31

 

CurrentYear

Prior Year

  Sales revenue

$

715,985

 

$

770,059

 

  Costof goods sold

 

350,448

 

 

380,254

 

  Gross profit

 

365,537

 

 

389,805

 

  Operating and other expenses

 

121,584

 

 

131,555

 

  Interest expense

 

13,100

 

 

7,100

 

  Income tax expense

 

41,500

 

 

42,600

 

 

 

 

 

 

 

 

  Netincome

$

189,353

 

$

208,550

 

 

 

 

 

 

 

 

Prepare a horizontal analysis of the income statement above.(Round your answers to the nearest wholepercent.)

URBAN OUTFITS, INC

Income Statements

Year Ended December 31

 

 

 

Increase (Decrease)

 

Current Year

Prior Year

Amount

Percent (%)

Sales Revenue

$715,985

$770,059

 

 

Cost of Goods Sold

350,448

380,254

 

 

Gross Profit

365,537

389,805

 

 

Operating and Other Expenses

121,584

131,555

 

 

Interest Expense

13,100

7,100

 

 

Income Tax Expense

41,500

42,600

 

 

Net Income

189,353

208,550