Exercise 13-6 Your answer is partially correct. Try again Here are the comparative income statements of Indigo Corporation INDIGO CORPORATION Comparative Income Statement For the Years Ended December 31 2019 2018 Net sales Cost of goods sold Gross Profit Operating expenses Net income $552,000 429,456 122,544 71,760 50,784 $460,000 376,280 83,720 39,100 44,620 Prepare a horizontal analysis of the income statement data for Indigo Corporation, using 2018 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g.-55,000,-2096 or (55,000), (2006). Round percentages to 1 decimal place, eg. 12.1%.) INDIGO CORPORATION Comparative Income Statement For the Month Ended December 31 Increase or (Decrease) During 2019 2019 2018 Amount Percentage INDIGO CORPORATION Comparative Income Statement For the Month Ended December 31 Increase or (Decrease) During 2019 2019 2018 Amount Percentage Net sales $552,000 $460,000 92000 201 % Cost of goods sold 429,456 376,280 83,720 39,100 $50,784 $44,620 53176 14.11 % Gross Profit 122,544 38824 46.41 % Operating expenses 71,760 32660 83.51 % Net income 6164 13.81 % Prepare a vertical analysis of the income statement data for Indigo Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) INDIGO CORPORATION Condensed Income Statements 2019 2018 Prepare a vertical analysis of the income statement data for Indigo Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) INDIGO CORPORATION Condensed Income Statements 2019 2018 Percent Percent 16.71% $460,000 12.4%376,280 83,720 Net sales $552,000 2011 % Cost of goods sold 429,456 Gross Profit 122,544 3.21 % 46.411 % Operating expenses 71,760 45.511 % 39,100 83.511 % $ 50,784 12.11% $44,620 Net income 13.811 % Question Attempts: 1 of 3 used