Two income statements for Hemlock Company follow: Hemlock Company Income Statements For Years Ended December 31 2016........................2015

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Two income statements for Hemlock Company follow:

Hemlock Company

Income Statements

For Years Ended December 31

2016........................2015

Fees earned.........................................$725,000.................$615,000

Operating expenses.................................435,000..................356,700

Operating income..................................$290,000.................$258,300

a. Prepare a vertical analysis of Hemlock Company's income statements.

b. Does the vertical analysis indicate a favorable or an unfavorable trend?

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Financial Accounting

ISBN: 978-1305088436

14th edition

Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac

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Question Posted: Dec 19, 2016 10:41 AM

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Two income statements for Hemlock Company follow: Hemlock Company Income Statements For Years Ended December 31 2016........................2015

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