Refer to E20.1 and perform a horizontal analysis showing the change from Year 1 to Year 2.
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Refer to E20.1 and perform a horizontal analysis showing the change from Year 1 to Year 2.
Data from E20.1
Using the data in these abbreviated income statements, prepare a vertical analysis.
Transcribed Image Text:
Sales Cost of goods sold Gross margin Operating expenses Net income Year 2 Year 1 $720,000 $518,000 440,000 316,000 $280,000 $202,000 220,000 152,600 $ 60,000 $49,400
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Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines
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