Here are the comparative condensed income statements of Delaney Corporation.

Instructionsa. Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2024 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.

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Delaney Corporation Condensed Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Operating expenses Net income 2025 $598,000 477,000 121,000 80,000 $ 41,000 2024 $500,000 420,000 80,000 44,000 $ 36,000