Here are the comparative income statements of Eudaley Corporation. EUDALEY CORPORATION Comparative Income Statements For the Years

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Here are the comparative income statements of Eudaley Corporation.

EUDALEY CORPORATION Comparative Income Statements For the Years Ended December 31 2014 2013 Net sales $598,000 $500,000 Cost of goods sold 477,000 420,000 Gross profit 121,000 80,000 Operating expenses 80,000 44,000 Net income $ 41,000 $ 36,000 Instructions

(a) Prepare a horizontal analysis of the income statement data for Eudaley Corporation, using 2013 as a base. (Show the amounts of increase or decrease.)

(b) Prepare a vertical analysis of the income statement data for Eudaley Corporation for both years.

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