PE 2-8BHorizontal analysis
Two income statements for Hitt Company are shown below.
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Hitt Company |
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Income Statements |
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For Years Ended December 31 |
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2012 |
2011 |
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Fees earned |
$937,500 |
$750,000 |
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Operating expenses |
612,500 |
500,000 |
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Net income |
$325.00 |
$250,000 |
Prepare a horizontal analysis of Hitt Company’s income statements.