From the comparative income statement of Wood Company in Figure 22.7, do the following:

a. Prepare a horizontal analysis with the amount of increase or decrease during 2016 along with the percent increase or decrease during 2015 (to the nearest tenth of a percent).
b. Vertically analyze the 2016 column of the income statement (to the nearest tenth of a percent).
c. Prepare a common-size comparative income statement (to the nearest tenth of a percent) for 2015 and 2016.

Figure 22.7: