Earth's General Store
Income Statement
Year ended Dec 31, 2015
					Vertical Analysis	Horizontal Analysis
	2015		2014		2015		2014		Dollar change		% change
Sales	$ 3,748,805		$ 2,505,948		100%		100%		$1,242,857		50%
Cost of Goods Sold	$ (2,640,070)		$ (1,879,488)		-70%		-75%		$ (760,582)		40%
Gross profit	$ 1,108,735		$ 626,460		30%		25%		$ 482,275		77%
Operating expenses
Sales and Marketing	$ (813,272)		$ (451,843)		-22%		-18%		$ (361,429)		80%
Administrative	$ (432,705)		$ (185,720)		-12%		-7%		$ (246,985)		133%
Income (loss) from operations	$ (137,242)		$ (11,103)		-4%		0%		$ (126,139)		1136%
Interest expense	$ (50,054)		$ (25,487)		-1%		-1%		$ (24,567)		96%
Income (loss) before income tax	$ (187,296)		$ (36,590)		-5%		-1%		$ (150,706)		412%
Income tax (recovered)	$ (28,352)		$ (5,359)		-1%		0%		$ (22,993)		429%
Net Income (loss)	$ (215,648)		$ (41,949)		-6%		-2%		$ (173,699)		414%

please verify the horizontal analysis calculations