Here are the comparative condensed income statements of Blue Spruce Corporation. BLUE SPRUCE CORPORATION Condensed Income...

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Here are the comparative condensed income statements of Blue Spruce Corporation. BLUE SPRUCE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales $644,500 $557,200 Cost of goods sold 457,595 401,184 Gross Profit 186,905 156,016 Operating expenses 77,340 47,362 Net income $ 109,565 $ 108,654 (a) Prepare a horizontal analysis of the income statement data for Blue Spruce 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%.) BLUE SPRUCE CORPORATION Condensed Income Statements For the Years Ended December 31 Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $644,500 $557,200 Cost of goods sold 457,595 401,184 Gross Profit 186,905 156,016 Operating expenses 77,340 47,362 Net income $ 109,565 $ 108,654 %24 %24 Here are the comparative condensed income statements of Blue Spruce Corporation. BLUE SPRUCE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales $644,500 $557,200 Cost of goods sold 457,595 401,184 Gross Profit 186,905 156,016 Operating expenses 77,340 47,362 Net income $ 109,565 $ 108,654 (a) Prepare a horizontal analysis of the income statement data for Blue Spruce 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%.) BLUE SPRUCE CORPORATION Condensed Income Statements For the Years Ended December 31 Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $644,500 $557,200 Cost of goods sold 457,595 401,184 Gross Profit 186,905 156,016 Operating expenses 77,340 47,362 Net income $ 109,565 $ 108,654 %24 %24

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