Select income statement data for Bukasy Company for two recent year ended December 31 are as follow:

	20Y2	20Y1
Sales	$2,200,000	$200,000
Cost of goods sold	1,337,500	1,250,000
Gross profit	$862,500	$750,000
Selling. General, and administrative expenses	440,000	400,000
Income from operations	$422,500	$350,000

Prepare horizontal and vertical analyses of Bukasy’s income statement. (Round percentages to one decimal places)

Answer rating: 100% (QA)

Horizontal Analysis Horizontal analysis shows increase and decrease in the amount and percentage of ... View the full answer