Answer
Step1:
WINFREY CORPORATION
Comparative Income statements
For the year ended December 31,
Increase (Decrease) during 2010
2007 2006 Amount Percent
Net Sales 598,000 520,000 78,000 15
Cost of goods sold 477.000 450,000 27.000 6
Gross Profit 121,000 70,000 51,000 72.86
Other Expenses 80,000 45,000 35,000 77.78
Step2:
2007 Percent 2007 Percent
Net Sales 598,000 100 520,000 100
Cost of goods sold 477,000 79.77 450,000 86.54
Gross Profit 121,000 20.23 70,000 13.46
Other Expenses 80,000 13.38 45,000 8.65
Work Step by Step
Step1:
Net Income 41,000 25,000 16,000 60%
Step2:
Net Income 41,000 6.85 25,000 4.81
