Make a vertical analysis of income statement for two years

Reference no: EM1317398

Using the data in these abbreviated income statements, prepare a vertical analysis.

	Year 1	Year 2
Sales	$360,000	$518,000
Cost of goods sold	220,000	316,000
	------------------	----------------
Gross margin	$140,000	$202,000
Operating expenses	110,000	152,000
	--------------------	-----------------
Net income	$30,000	$49,400

Then perform a horizontal analysis showing the change from year 1 to year 2.

Reference no: EM1317398

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