Perform horizontal financial analysis on the income statement and explanation?

 

Statement of Income Year ended September 30 Unaudited Proforma 2019 2018 2017 2016 2015 Sales Convenience sales Gas revenue 33,567,656 34,137,445 15,482,222 17,219,716 49,049,878 | 51,357,161 35,900,274 34,255,987 32,353,702 16,320,905 52,221,179 50,712,980 49,004,636 16,456,993 16,650,934 Cost of sales Inventory, beginning of year 2,468,845 38,468,639 2,478,032 38,655,744 40,584,161 41,133,776 42,970,734 2,497,138 38,636,638 40,492,702 622,400 2,386,573 2,695,786 40,732,520 40,316,819 2,604,672 Purchases 43,428,306 42,921,491 40,937,484 2,695,786 41,041,733 40,225,705 38,332,812 788,619 Inventory, end of year 2,478,032 2,386,573 2,604,672 Less rebates, discounts, and 556,782 666,778 642,518 promotional expenses Gross margin Gross margin (percentage) 38,014,238 39,935,920 11,035,640 11,421,241 22.5 40,374,955 | 39,437,086 37,690,294 11,846,224 11,275,894 11,314,342 22.2 22.2 22.7 23.1 Expenses General and administrative Interest on debts Amortization of property, plant, and equipment Amortization of intangible assets 10,777,843 10,595,723 10,903,906 14,100 268,500 11,025,169 10,654,320 27,918 272,245 226,715 217,921 241,340 14,241 23,646 11,033,424 10,901,969 11,227,715 373,925 23,646 | 11,251,884 10,872,241 (216,244) Income before the undernoted items 549,000 812,801 86,627 Other income (expenses) Gain on sale of property, plant, and equipment 5,660 - | | 5,660 818,461 (216,244) (47,584) (168,660) 549,000 (120,807) 428,193 373,925 (82,264) 291,661 86,627 (19,058) 67,569 Provision for income taxes (180,061) 638,400 Net income (loss) for the year