Horizontal analysis Obj. 5 Two income statements for Fuller Company follow:

Fuller Company Income Statements For the Years Ended December 31 20Y4 20Y3 Fees earned Expenses Net income

$ 680,000

(541,875)

$ 850,000

(637,500)

$ 138,125 $ 212,500 Prepare a horizontal analysis of Fuller Company’s income statements.

AppendixLO1