EXERCISE 15-1 Instructions: Using the condensed income statement information prese nted ending below, perform a vertical analysis for Delta Corp. fortheeenues. December 31, 2015 and 2014, stating each item as a percent of for the years rcent of revenues. Percent 2015 Percent $450,000 2014 $389,000 Revenues Costs and expenses: Cost of sales $200,000 100.000 00.000 $150,000 34.500 $115,500 $176,000 73,000 Total costs and expenses Earnings before income taxes Income taxes .. Net earnings $140,000 32.200 $107,800 EXERCISE 15-2 Instructions: Using the condensed balance sheet data presented below perfor m a horizontal analysis for Carson Inc. on December 31, 2015. Indicate the amount and percent increase (decrease) in the columns provided increase (Decrease Amount Percent 2015 2014 Current assets Fixed assets Intangible assets. Current liabilities.... Long-term liabilities... Common stock Retained earnings. $248,300 $220,000 435,000401,600 46,000 88,00080,000 250,000 43,700 .225,000 250,000 214,000 167,600 200,000170,000 or pert accessible website, in hole or i po 2014 Cengge Looming Al Rights Reservesd Moy not be soioed, oped or ouplicated. or pested to a publoly scessble weiste in who