Exercise 13-1A (Algo) Horizontal analysis LO 13-1 Vernon Corporation reported the following operating results for two consecutive years Required a. Compute the percentage changes in Vernon Corporation's income statement components between the two years. (Negative amounts should be indicated by a minus sign. Round your answers to 1 decimal place. (ie., 0.234 should be entered as 23.4.) VERNON CORPORATION Income Statements Year 3 Year 2 Percentage Change Sales $ 1,297,000 $ 1.002.500 Cost of goods sold 797,655 601,500 n Gross margin Operating expenses Income before taxes 499.345 401.000 302,000 195.500 197,345 205,500 Income taxes 61,400 52.000 Net income (loss) $ 135.945 $ 153.500 % 62 Q Prev 1 of 5 Next >> MacBook Pro $ 14 4 % 25 E R # 3 W S A N D V B N M H co