This is another example question that asks to prepare a horizontal and vertical analysis.Attachment 1Attachment 2Attachment 3Here are the comparative income statements of Delaney Corporation.Delaney CorporationComparative Income StatementsFor the Years Ended December 3120202019Net sales$775,000$651,000Cost of goodssold604,500524,706Gross profit170,500126,294Operatingexpenses106,17559,892Net income$ 64,325$ 66,402
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