Complete the horizontal analysis given data for the XYZCompany XYZ Company Income Statement For the year ended 12/31/15 12/31/14 Horizontal Analysis Net sales $435,760 $335,200 Cost of goods sold 135,465 105,230 Gross profit 300,295 229,970 Research & development 50,000 55,000 Selling expenses 49,400 38,000 Administrative expenses 156,900 142,100 Depreciation expense 74,000 36,000 Patent amortization expense 4,000 333 Income (loss) from operations -34,005 -41,463 Other revenue (expense), net -25,400 427 Net income (loss) ($59,405) ($41,036) * Comprised mostly of InterestExpense for 2015 Comment on thesignificance of the trend results:

Question

Complete the horizontal analysis given data for the XYZCompany   XYZ Company      Income Statement      For the year ended       12/31/15 12/31/14 Horizontal Analysis         Net sales $435,760 $335,200    Cost of goods sold 135,465 105,230    Gross profit 300,295 229,970    Research & development 50,000 55,000    Selling expenses 49,400 38,000    Administrative expenses 156,900 142,100    Depreciation expense 74,000 36,000    Patent amortization expense 4,000 333    Income (loss) from operations -34,005 -41,463    Other revenue (expense), net -25,400 427    Net income (loss) ($59,405) ($41,036)          * Comprised mostly of InterestExpense for 2015                Comment on thesignificance of the trend results:

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XYZ Company
Income Statement
For the year ended
	12/31/15	12/31/14	Horizontal Analysis

Net sales	$435,760	$335,200
Cost of goods sold	135,465	105,230
Gross profit	300,295	229,970
Research & development	50,000	55,000
Selling expenses	49,400	38,000
Administrative expenses	156,900	142,100
Depreciation expense	74,000	36,000
Patent amortization expense	4,000	333
Income (loss) from operations	-34,005	-41,463
Other revenue (expense), net	-25,400	427
Net income (loss)	($59,405)	($41,036)

* Comprised mostly of InterestExpense for 2015


Comment on thesignificance of the trend results: