The condensed financial statements of Pacioli Company are as follows:

Additional Information:

Common stock issued and outstanding: 50,000 shares

Market price of the stock: 3/31/2018, .......................................................           $23

Dividends paid: 2018, .................................................................................     $10,000

Cash flows from operations: 2018, ..........................................................       $9,560

Interest expense included in operating expense: 2018, .......................    $11,360

Required:

A. Prepare a vertical analysis for 2018 and 2017.B. Prepare a horizontal analysis for 2018.

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PACIOLI COMPANY Income Statement For the Years Ended March 31 2018 2017 $740,000 $525,000 530,400 376,200 $209,600 $148,800 Sales Cost of goods sold Gross margin Operating expenses Income before taxes Income tax expense Net income 158,000 117,300 $51,600 $ 31,500 15.480 9,450 $36,120 $22,050