Current Attempt in Progress - /15 Here are the comparative income statements of Pharoah Corporation. PHAROAH CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $628,800 $533.500 Cost of goods sold 446,600 437.900 Gross Profit 182,200 95,600 Operating expenses 79,000 41,600 Net income $ 103,200 $ 54,000 (a) Prepare a Horizontal analysis of the income statement data for Pharoah Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, eg.-55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%) PHAROAH CORPORATION Comparative Income Statement Prepare a horizontal analysis of the income statement dat. Pharoah Corporation, using 2021 as a base. (if amount and percentage are a decrease show the numbers as negative, e-3-55,000.-20..r (55,000). (20%). Round percentages to 1 decimal place, es. 12.1%) PHAROAH CORPORATION Comparative Income Statement 2022 Net sales 2021 Increase or (Decrease) During 2022 Amount Percentage $628.800 $533.500 Cost of goods sold $ 446,600 437.900 Gross Profit % 182.200 95,600 %6 Operating expenses 79,000 41.600 % Net income $ 103,200 $ 54,000 $ % % (b) Prepare a vertical analysis of the income statement data for Pharoah Corporation for both years. (Round percentages to 1 decimal place. es. 12.1%) 30 A Prepare a vertical analysis of the income statement data for Pharoah Corporation for both years. (Round percentages to 1 decimal place, ... 12.1%) PHAROAH CORPORATION Condensed Income Statements 2022 Percent 2021 Percent Net sales $628,800 % $533.500 % Cost of goods sold 446,600 % 437.900 % Gross Profit 182.200 % 95.600 % Operating expenses 79,000 % 41.600 % Net Income $ 103,200 $ 54,000