Question: Prepare a horizontal analysis using 2020 as the base year, using the following chart: 2021 2020 Dollar Change Percent Change Net sales $600,000 $500,000 Cost
- Prepare a horizontal analysis using 2020 as the base year, using the following chart:
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2021 |
2020 | Dollar Change | Percent Change |
| Net sales | $600,000 | $500,000 |
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| Cost of goods sold | 483,000 | 420,000 |
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| Gross profit | 117,000 | 80,000 |
|
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| Operating expenses | 57,200 | 44,000 |
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| Net income | $59,800 | $36,000 |
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