COOKIE & COFFEE CREATIONS INC.
Income Statement
For the Year Ended October 31
Horizontal
2014	2013	Difference	Analysis
Sales	$485,625	$462,500
Cost of goods sold	222,694	208,125
Gross profit	262,931	254,375
Operating expenses
Salaries & wages expense	147,979	146,350
Depreciation expense	17,600	9,100
Other operating expenses	48,186	42,925
Total operating expenses	213,765	198,375
Income from operations	49,166	56,000
Other expenses
Interest expense	413	0
Loss on sale of computer
equipment	2,500	0
Total other expenses	2,913	0
Income before income tax	46,253	56,000
Income tax expense	9,251	14,000
Net income	$37,002	$42,000
COOKIE & COFFEE CREATIONS INC.
Income Statement
For the Year Ended October 31
Vertical	Vertical
2014	Analysis	2013	Analysis
Sales	$485,625	$462,500
Cost of goods sold	222,694	208,125
Gross profit	262,931	254,375
Operating expenses
Salaries & wages expense	147,979	146,350
Depreciation expense	17,600	9,100
Other operating expenses	48,186	42,925
Total operating expenses	213,765	198,375
Income from operations	49,166	56,000
Other expenses
Interest expense	413	0
Loss on sale of computer
equipment	2,250	0
Total other expenses	2,663	0
Income before income tax	46,253	56,000
Income tax expense	9,251	14,000
Net income	$37,002	$42,000