Question: (2) The pre-seen material includes The Red Squirrel Patisserie's statements of profit or loss for the last two years. Use vertical and horizontal analysis

(2) The pre-seen material includes The Red Squirrel Patisserie's statements of profit

(2) The pre-seen material includes The Red Squirrel Patisserie's statements of profit or loss for the last two years. Use vertical and horizontal analysis techniques to complete the blank fields in the table below (6 Marks) Sales Revenue Gross Profit () Gross Profit (%) 2022 2021 520,000 470,000 249,600 249,100 Operating Profit () 124,600 130,100 Year on Year Variance () Year on Year Variance (%) Operating Profit (%) *Variance to be quoted in percentage points (b) Briefly comment on the key aspects of the business's year-on-year performance

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