At the end of the year, Jane Mayer, the president, is presented with the following condensed comparative income statement:

For 2015 McFadden Inc reported its most significant increase in


For 2015, McFadden Inc. reported its most significant increase in net income in years. At the end of the year, Jane Mayer, the president, is presented with the following condensed comparative income statement:

Instructions

1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2014 as the base year. Round to one decimal place.

2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).

For 2015 McFadden Inc reported its most significant increase in

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