Question: 1. Practice Problem 10 points #1 HORIZONTAL ANALYSIS INSTRUCTIONS: Prepare a horizontal analysis of the income statement for Moran Corp. using 2019 as a base.

1. Practice Problem 1. Practice Problem 10 points #1 HORIZONTAL ANALYSIS INSTRUCTIONS: Prepare a horizontal

10 points #1 HORIZONTAL ANALYSIS INSTRUCTIONS: Prepare a horizontal analysis of the income statement for Moran Corp. using 2019 as a base. Moran Corp. rative Condensed Income Stat the years ended Decembe 2020 600 2012 500 350 300 Net Sales Cost of goods sold Gross Profit Operating expenses Net Income 250 200 40 50 200 160

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