Select the incorrect statement regarding horizontal analysis. Percentage analysis involved establishing the relationship of one amount to another. A horizontal analysis of cost of goods sold on the income statement includes dividing net income by total revenue. Percentage analysis attempts to eliminate the materials problem of comparing firms of different sizes. Milton Company has total current assets of $ 46,000, including inventory of $ 10,000, and current liabilities of $ 20,000. The company's current ratio is: Company produce dog houses. During 2013, steuben company incurred the following costs: Wages paid to factory machine operators in producing the dog houses should be categorized as