Assessment and Measurement Assignment (3.1) Objective: This activity has the purpose of helping students prepare horizontal and vertical analyses. Student Instructions: 1. Prepare a horizontal analysis of the income statement data for Eudaley Corporation, using 2013 as a base. (Show the amounts of increase or decrease.) 2. Prepare a vertical analysis of the income statement data for Eudaley Corporation for both years. 3. You only have one opportunity to submit the homework through email. 4. Value points: (30 pts.) 5. Due date is on Saturday at 11:59 PM by the end of this week. Here are the comparative income statements of Eudaley Corporation. EUDALEY CORPORATION Comparative Income Statements For the Years Ended December 3 2014 Net sales $598.000 Cost of goods sold Gross profit 121,000 Operating expenses 80,000 Net income $ 41,000 2013 $500,000 420,000 80,000 44,000 $ 36,000