Question: 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

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. Sales Cost of goods sold Gross margin Operating expenses Net income Year

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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