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

Paragon Company Income Statements For the Years Ended December 31 20Y7 20Y6 Fees earned Expenses Net income

$ 1,416,000

(1,044,000)

$1,200,000

(900,000)

$ 372,000 $ 300,000 Prepare a horizontal analysis of Paragon Company’s income statements.

AppendixLO1