Selected financial information for Brant Corporation presented below.
December 31, : 1312008
Selected financial information for Brant Corporation is presented below.
December 31, 2013December 31, 2012
Current assets$ 55,000$ 45,000
Prepare a schedule showing a horizontal analysis for 2013 using 2012 as the base year.
Comparative information taken from the Wimbley Company financial statements is shown below:
(a)Notes receivable$ 20,000$ -0-
(d)Income taxes payable55,00020,000
Using horizontal analysis, show the percentage change from 2012 to 2013 with 2012 as the base year.
Fork Corporation had net income of $2,000,000 in 2011. Using 2011 as the base year, net income decreased by 75% in 2012 and increased by 190% in 2013.
Compute the net income reported by Fork Corporation for 2012 and 2013.