S1-13 Evaluating business performance [10 min]
Consider the facts presented in S1-12 for Elegant Arrangements Corporation.
Requirements
1. Review the income statement prepared in S1-12. Evaluate the results of 2012
operations for Elegant Arrangements Corporation. Was the year good or bad?
2. If the company’s service revenue was 20% less than reported in S1-12, how will
the net income (loss) change?
3. If the company’s salary expense was 20% more than reported in S1-12, how will
the net income (loss) change?
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