I need the formulas needed to find the Vertical Analysis:2021 and Horizontal Analysis. The formulas you put into eachcell to find the answer not just the answer.

Comparative Income Statements: 2020 and 2021
							Horizontal Analysis
			2021	Vertical Analysis: 2021		2020	Dollar Change	Percentage Change
Sales (net)			$ 7,964,200			$ 7,383,000	$ 581,200
Cost of Sales			$ 5,319,600			$ 5,061,900	$ 257,700
Gross profit			$ 2,644,600			$ 2,321,100	$ 323,500
Operating Expenses
	Selling, general, admin expenses		$ 1,603,300			$ 1,523,700	$ 79,600
	Credit card expenses		$ 49,600			$ 48,200	$ 1,400
	Depreciation expense		$ 243,100			$ 218,800	$ 24,300
	Total operating expenses		$ 1,896,000			$ 1,790,700	$ 105,300
Operating income (EBIT)			$ 748,600			$ 530,400	$ 218,200
Interest expense			$ 59,800			$ 69,500	$ (9,700)
Income before Income Taxes (EBT)			$ 688,800			$ 460,900	$ 227,900
Income tax expense			$ 192,100			$ 133,260	$ 58,840
Net income			$ 496,700			$ 327,640	$ 169,060

Answer rating: 100% (QA)

Vertical analysis 2021 2022 Horizontal analysis 2021 Dollar Change Percentage change a a 7964200 X 1... View the full answer