comparative income statement for Fullams Bidding Company

Objective To prepare a comparative income statement with vertical The 20X2 and 20X3 income statements for Fullam's Bedding Company Fullam's Bedding Company Comparative Income Statement For Years Ended December 31, 20X2 and 20x3 2033 $2,350 0 00 00518000 0 150000 00 20000000 Less Sales returns $2,2000 00 00$1.50000 1,606 000 00 1,12000 $ 594 000 005 480000 Net sales Cost of goods sold Gross profit Expenses Selling General Interest Income taxes Net income $ (188 5 20 00)8(196 80000 (125 6 80 00) (131 20000 (22 4 0000) (24 000 (83 6 36 00) (33 170 S 173 764 00S 94830 Directions: 1. Prepare a dassified comparative income statement with vertical analysis for Fullam. on the strengths and weaknesses shown by the 2. Analyze the statement, commenting changes in the operating results