Here are the comparative condensed income statements of Bridgeport Corporation. BRIDGEPORT CORPORATION Condensed Income Statements For...

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Here are the comparative condensed income statements of Bridgeport Corporation. BRIDGEPORT CORPORATION Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales $621,600 $541,200 Cost of goods sold 466,200 441,078 Gross Profit 155,400 100,122 Operating expenses 68,376 43,296 Net income $87,024 $ 56,826 (a) Prepare a horizontal analysis of the income statement data for Bridgeport Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) BRIDGEPORT CORPORATION Condensed Income Statements Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $621,600 $541,200 $ % Cost of goods sold 466,200 441,078 % Gross Profit 155,400 100,122 % Operating expenses 68,376 43,296 % Net income $87,024 $ 56,826 $ % Here are the comparative condensed income statements of Bridgeport Corporation. BRIDGEPORT CORPORATION Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales $621,600 $541,200 Cost of goods sold 466,200 441,078 Gross Profit 155,400 100,122 Operating expenses 68,376 43,296 Net income $87,024 $ 56,826 (a) Prepare a horizontal analysis of the income statement data for Bridgeport Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) BRIDGEPORT CORPORATION Condensed Income Statements Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $621,600 $541,200 $ % Cost of goods sold 466,200 441,078 % Gross Profit 155,400 100,122 % Operating expenses 68,376 43,296 % Net income $87,024 $ 56,826 $ %

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