Here are the comparative income statements of Delaney Corporation

Instructions
(a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2016 as a base. (Show the amounts of increase or decrease.)
(b) Prepare a vertical analysis of the income statement data for Delaney Corporation for both years.

Transcribed Image Text:

DELANEY CORPORATION Comparative Income Statements For the Years Ended December 31 2017 $598,000 477,000 121,000 80,000 S 41,000 2016 $500,000 420,000 80,000 44,000 36,000 Net sales Cost of goods sold Gross profit Net income