F A B D E F 1 Statement of Financial Performance/Income Statement 2. (values in thousands) 2020 2019 2018 2017 3 Sales 350 330 410 295 4 Sales Discount 25 15 30 10 5 Net Sales 325 315 380 285 6 Cost of Sales 105 125 180 110 7 Gross Profit 220 190 200 175 8 Operating Expenses 145 150 165 110 9 Net Income 75 40 35 65 10 11 12 REQUIREMENT: 13 1. Prepare Horizontal, Vertical analysis and Trend Percentages for the above Income Statement 14 2. Compute for the following ratios: 15 a. Gross Profit Margin 16 b. Net Profit Margin 17 c. Return on Assets 18 19 3 20 21