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Exercise 13-6 Here are the comparative income statements of Grouper Corp. GROUPER CORP Comparative Income Statement For the Years Ended December 31 2017 2016 Net
Exercise 13-6 Here are the comparative income statements of Grouper Corp. GROUPER CORP Comparative Income Statement For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross Profit Operating expenses Net income $634,000 459,200 174,800 137,300 $568,100 430,800 77,300 40,900 97,500 $96,400 Prepare a horizontal analysis of the income statement data for Grouper Corp., 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, eg. 12.1%.) GROUPER CORP Increase or (Decrease) During 2017 2017 2016 Amount Net sales Cost of goods sold Gross Proft Operating expenses $634,000 $568,100 430,800 174,800 137,300 40,900 459,200 77,300 Net income 97,50096,400 Prepare a vertical analysis of the income statement data for Grouper Corp. for both years.(Round percentages to 1 decimal place, e.g. 12.1%.) GROUPER CORP. Condensed Income Statements 2017 2016 Percent Percent Net sales Cost of goods sold Gross Profit Operating expenses $634,000 459,200 174,800 77,300 97,500 |% $568,100 % 430,800 % 137,300 40,90o % $96,400
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