com BLUE SPRUCE CORP. Comparative Income Statement For the Years Ended December 31 2020 2010 Net sales $576,000 $480,000 Cost of goods sold 440,064 404,160 Gross Profit 135,936 75,840 84,096 44,160 Operating expenses Net income $ 51,840 $31,680 (a) Prepare a horizontal analysis of the income statement data for Blue Spruce Corp., using 2019 as a base. (If amount and pe numbers as negative, eg. -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, e.g. 12.1%) BLUE SPRUCE CORP Comparative Income Statement For the Years Ended December 31 Increase or (Decrease) During 2020 2020 2019 Amount Percentage 96000 20.0 % Net sales $576,000 $480,000 $ 8.9 35904 96 440,064 Cost of goods sold 404,160 79.2 %6 Gross Profit 135,936 60096 75,840 90.4 39936 % 84,096 Operating expenses 44,160 (a) Prepare a horizontal analysis of the income statement data for Blue Spruce Corp., using 2019 as a base. (If amount and percentage numbers as negative, eg.-55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, eg. 12.1%.) BLUE SPRUCE CORP. Comparative Income Statement For the Years Ended December 314 Increase or (Decrease) During 2020 2020 2019 Amount Percentage $576,000 $480,000 $ 96000 20.0 % Net sales Cost of goods sold Gross Profit 440,064 404,160 35904 8.9 % 135,936 75,840 60096 79.2 96 Operating expenses 84,096 44,160 39936 90.4 %6 Net income $ 51,840 $ 31,680 $ 20160 63.6 %6 (b) I Prepare a vertical analysis of the income statement data for Blue Spruce Corp. for both years. (Round percentages to 1 decimal plac BLUE SPRUCE CORP Condensed Income Statements For the Years Ended December 31 2020 2019 Dawcant Rancant Operating expenses 84,096 44,160 39936 90.4 %6 Net income $ 51,840 $31,680 $ 20160 63.6 % (b) Prepare a vertical analysis of the income statement data for Blue Spruce Corp. for both years. (Round percentages to 1 decil BLUE SPRUCE CORP Condensed Income Statements For the Years Ended December 31 2020 2019 Percent Percent Net sales $576,000 100 % $480,000 100 % Cost of goods sold 440,064 %% 404,160 % Gross Profit 135,936 % 75,840 % Operating expenses 84,096 % 44,160 % Net income $ 51,840 % 31,680 de e Textbook and Media Save for Later Last saved 8 minutes ago. Attempts Your grade has been recorded in the Gradebook. Fri, May 15, 2020, 1:03:46 AM (America/Los Angeles -7.00