Daley Corporation makes cell phone covers and has the following comparative income statement for the years ended December 31, 2019 and 2018: Cick the icon to view the comparative income statement.) Requirement Read the requirement. 800 0 800 0.0 % Other Expenses Total Expenses Perform a horizontal analysis and a vertical analysis of Daley Corporation State whether 2019 was a good year or a bad year, and give your reasons. 189.400 134.400 55,000 40.9 % $ 10.600 $ 17,100 $ (6,500) (38.0) Net Income % Print Done Was 2019 a good year or a bad year? Give your reasons. According to the horizontal analysis, even though Daley's net sales revenue increased the company's expenses increased by a larger percentage netting an overall reduction in net income from one year to the next. That indicates that 2019 was a bad year in comparison to 2018. Complete a vertical analysis of Daley Corporation's comparative income statement. (Round all percentages to the nearest tenth percent, XX. Complete all input boxes. Enter a "0" for any zero percent - X Comparative Income Statement Daley Corporation Income Statement Years Ended December 31, 2019 and 2018 Daley Corporation 2019 Percent 2018 Percent Income Statement Revenues Years Ended December 31, 2019 and 2018 Net Sales Revenue $ 200.000 % $ 150.000 % 2019 2018 0 1,500 Other Revenues % % Revenues Total Revenues 200.000 % 151,500 Net Sales Revenue $ 200,000 $ 150,000 Expenses: 0 1,500 Other Revenues Cost of Goods Sold 142.400 % 101,550 % Total Revenues 200,000 151.500 Engineering, Selling, and Administrative Expenses 35,600 % 29.100 % Expenses Interest Expense 5,000 % 2,700 % Cost of Goods Sold 142,400 101,550 Income Tax Expense 5,600 % 1,050 % Engineering, Selling, and Administrative Expenses 35,600 29,100 800 0 Other Expenses % % Interest Expense 5,000 2,700 Total Expenses 189,400 % 134,400 % Income Tax Expense 5.600 1,050 $ 10,600 17,100 0 Net Income % 800 Other Expenses Total Expenses 189,400 134,400 Enter any number in the edit fields and then click Check Answer. $ 10,600 $ 17,100 Net Income % Daley Corporation makes cell phone covers and has the following comparative income statement for the years ended December 31, 2019 and 2018: Cick the icon to view the comparative income statement.) Requirement Read the requirement. 800 0 800 0.0 % Other Expenses Total Expenses Perform a horizontal analysis and a vertical analysis of Daley Corporation State whether 2019 was a good year or a bad year, and give your reasons. 189.400 134.400 55,000 40.9 % $ 10.600 $ 17,100 $ (6,500) (38.0) Net Income % Print Done Was 2019 a good year or a bad year? Give your reasons. According to the horizontal analysis, even though Daley's net sales revenue increased the company's expenses increased by a larger percentage netting an overall reduction in net income from one year to the next. That indicates that 2019 was a bad year in comparison to 2018. Complete a vertical analysis of Daley Corporation's comparative income statement. (Round all percentages to the nearest tenth percent, XX. Complete all input boxes. Enter a "0" for any zero percent - X Comparative Income Statement Daley Corporation Income Statement Years Ended December 31, 2019 and 2018 Daley Corporation 2019 Percent 2018 Percent Income Statement Revenues Years Ended December 31, 2019 and 2018 Net Sales Revenue $ 200.000 % $ 150.000 % 2019 2018 0 1,500 Other Revenues % % Revenues Total Revenues 200.000 % 151,500 Net Sales Revenue $ 200,000 $ 150,000 Expenses: 0 1,500 Other Revenues Cost of Goods Sold 142.400 % 101,550 % Total Revenues 200,000 151.500 Engineering, Selling, and Administrative Expenses 35,600 % 29.100 % Expenses Interest Expense 5,000 % 2,700 % Cost of Goods Sold 142,400 101,550 Income Tax Expense 5,600 % 1,050 % Engineering, Selling, and Administrative Expenses 35,600 29,100 800 0 Other Expenses % % Interest Expense 5,000 2,700 Total Expenses 189,400 % 134,400 % Income Tax Expense 5.600 1,050 $ 10,600 17,100 0 Net Income % 800 Other Expenses Total Expenses 189,400 134,400 Enter any number in the edit fields and then click Check Answer. $ 10,600 $ 17,100 Net Income %