View Policies Current Attempt in Progress Here are the comparative income statements of Sunland Corporation. SUNLAND CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $613.800 $556,000 Cost of goods sold 457,400 437,400 Gross Profit 156,400 118,600 Operating expenses 73.400 41,900 Net income $83.000 $ 76,700 (a) Prepare a horizontal analysis of the income statement data for Sunland 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, eg 12.1%) SUNLAND CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 Amount Percentage 2022 2021 Net sales $613,800 $556,000 $ % Cost of goods sold 457,400 437,400 Gross Profit 156,400 118,600 Operating expenses 73.400 41,900 Net income $ 83,000 $ 76,700 $ % (b) Prepare a vertical analysis of the income statement data for Sunland Corporation for both years. (Round percentages to 1 decimal place, es. 12.1) SUNLAND CORPORATION Condensed Income Statements 2021 2022 Percent Percent Net sales $613,800 $556,000 % Cost of goods sold 457.400 437,400 % Gross Profit 156,400 % 118,600 96 Operating expenses 73,400 %6 41,900 %6 Net income $ 83,000 $ 76,700 96 e Textbook and Media Save for Later Attempts: 0 of 3 used Submit