4 5 6 #1 HORIZONTAL ANALYSIS 7 8 9 10 11 12 INSTRUCTIONS: Prepare a horizontal analysis of the income statement for Moran Corp. using 2020 as a base. Moran Corp. Comparative Condensed Income Statement For the years ended December 31 13 14 1992222222222 15 Net Sales 16 Cost of goods sold 17 Gross Profit 18 Operating expenses Net Income 2021 2020 600 500 450 400 150 100 54 40 96 60 20 23 24 #2 VERTICAL ANALYSIS 25 26 27 28 INSTRUCTIONS: Prepare a vertical analysis of the income statement for Moran Corp. Moran Corp. Comparative Condensed Income Statement For the years ended December 31 30 31 32 33 Net Sales 34 Cost of goods sold 35 36 37 Gross Profit Operating expenses Net Income 38 39 40 41 42 43 44 45 46 Ready Sheet1 + 2021 2020 600 500 450 400 150 100 54 40 96 60 10 points 10 points