Solution-Perform a vertical analysis showing each income

Perform a vertical analysis showing each income statement

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Reference no: EM132474315

Question - Income statements for Fanning Company for 2018 and 2019 follow:

FANNING COMPANY Income Statements
	2019	2018
Sales	$200,600	$180,600
Cost of goods sold	142,000	120,000
Selling expenses	20,700	18,700
Administrative expenses	12,900	14,900
Interest expense	3,400	5,400
Total expenses	$179,000	$159,000
Income before taxes	21,600	21,600
Income taxes expense	6,600	3,600
Net income	$15,000	$18,000

Required -

1. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019.

2. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

Reference no: EM132474315

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Perform a vertical analysis showing each income statement

Reference no: EM132474315

Reference no: EM132474315

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