Use the comparative income statement for Ortizs Jewelry Store, Inc., presented in Problem. In Problem, During 2013,
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In Problem, During 2013, Ortizs Jewelry Store, Inc., began a sales promotion campaign that cost $ 9,672 more than it usually spent on advertising. Following is a condensed partial comparative income statement for the fiscal years ended December 31, 2013, and December 31, 2012.
Required
1. Using vertical analysis, prepare a comparative income statement for the two-year period. Round percentages to three decimal places.
2. Comment on the percentagefigures.
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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