Here are the comparative income statements of Delaney Corporation. Instructions (a) Prepare a horizontal analysis of the
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Instructions
(a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2018 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 Net sales Cost of goods sold Gross profit Operating expenses Net income 2019 $598,000 477,000 21,000 80,000 $ 41,000 2018 $500,000 420,000 80,000 44,000 $36,000
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Related Book For
Financial Accounting
ISBN: 978-1119305736
10th edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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