=+The income statement and balance sheet are the primary reports that a firm constructs for use by management and for distribution to stockholders, regulatory bodies, and the general public. They are the primary sources of historical financial information about the firm. Dayton Products Inc. is a moderate-sized manufacturer. The company’s management has asked you to perform a detailed financial statement analysis of the firm.

The income statements for the years ending December 31, 2019 and 2018, respectively, are presented in the following table.