View Policies Current Attempt in Progress Here are the comparative income statements of Sandhill Corporation SANDHILL CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales Cost of goods sold Gross Profit Operating expenses Net income $621,600 450,400 171,200 70,300 $ 100,900 $541,200 439.700 101,500 42,500 $ 59,000 (a) Prepare a horizontal analysis of the income statement data for Sandhill 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 decimal place, e.g. 12.1%.) Prepare a horizontal analysis of the income statement data for Sandhill 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%) SANDHILL CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 Amount Percentage 2022 2021 Net sales $621,600 $541,200 $ % Cost of goods sold 450,400 439.700 % Gross Profit 171,200 101,500 % Operating expenses 70,300 42,500 98 Net income $100,900 $59.000 $ 26 (b) (b) Prepare a vertical analysis of the income statement data for Sandhill Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%) SANDHILL CORPORATION Condensed Income Statements 2022 Percent 2021 Percent Net sales $621,600 % $541.200 % Cost of goods sold 450,400 % 439.700 Gross Profit 171.200 % 101,500 % 70,300 % 42,500 % Operating expenses Net income $ 100,900 % $59.000 % e Textbook and Media Save for later Attempts: 0 of 3 used Submit