Two income statements for Fortson Company are shown below. a. Prepare a vertical analysis of Fortson Companys
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a. Prepare a vertical analysis of Fortson Companys income statements.
b. Does the vertical analysis indicate a favorable or unfavorabletrend?
Transcribed Image Text:
Fortson Company Income Statements For Years Ended December 31 2012 2011 Fees earned Operating expenses Operating income $425,000 263,500 161,500 $375,000 225,000 $150,000
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