Here are the comparative income statements of Delaney Corporation. Instructions a. Prepare a horizontal analysis of the

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Here are the comparative income statements of Delaney Corporation.

Delaney Corporation Comparative Income Statements For the Years Ended December 31 2022 2021 Net sales $500,000 $598,000

Instructions

a. Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2021 as a base.

b. Prepare a vertical analysis of the income statement data for Delaney Corporation for both years.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1119493631

9th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jul 12, 2019 01:43 PM

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Here are the comparative income statements of Delaney Corporation. Instructions a. Prepare a horizontal analysis of the

Question:

Delaney Corporation Comparative Income Statements For the Years Ended December 31 2022 2021 Net sales $500,000 $598,000 Cost of goods sold Gross profit Operating expenses 477,000 420,000 121,000 80,000 80,000 44,000 $ 41,000 $ 36,000 Net income

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