a. Prepare a vertical analysis of Cornea Companys income statements. If required, round your percentage to the nearest whole number.

b. Does the vertical analysis indicate a favorable or an unfavorable trend?

Vertical analysis Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 2049 2048 Fees earned $1,630,000 $1,400,000 Expenses (798,700) (798,000) Net income $831,300 $602,000 Required: a. Prepare a vertical analysis of Cornea Company's income statements. If required, round your percentage to the nearest whole number. Cornea Company Income Statements For the Years Ended December 31 2049 Amount Percent Amount Percent Fees earned $1,630,000 % $1,400,000 % Expenses (798,700) (798,000) % Operating income $831,300 % $602,000 20Y8 % % b. Does the vertical analysis indicate a favorable or an unfavorable trend