Exercise 13-6

Here are the comparative income statements of Flint Corporation.

FLINT CORPORATION Comparative Income Statement For the Years Ended December 31
		2017		2016
Net sales		$610,300		$540,600
Cost of goods sold		448,800		426,200
Gross Profit		161,500		114,400
Operating expenses		76,400		48,100
Net income		$ 85,100		$ 66,300

1. Prepare a horizontal analysis of the income statement data for Flint Corporation, using 2016 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)

2. Prepare a vertical analysis of the income statement data for Flint Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.)