For 20Y6, Fishing Experiences Inc. initiated a sales promotion campaign

For 20Y6, Fishing Experiences Inc. initiated a sales promotion campaign that included the expenditure of an additional $45,000 for advertising. At the end of the year, Colt Schultz, the president, is presented with the following condensed comparative income statement:

For 20Y6, Fishing Experiences Inc. initiated a sales promotion campaign


Instructions
1. Prepare a comparative income statement for the two-year period, presenting a vertical analysis of each item in relationship to sales for each of the years.
2. Comment on the significant relationships revealed by the vertical analysis prepared in (1).

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