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Here are the comparative condensed income statements of Blue Spruce Corporation. BLUE SPRUCE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 2021
Here are the comparative condensed income statements of Blue Spruce Corporation. BLUE SPRUCE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 2021 Net sales $644,500 $557,200 Cost of goods sold 457,595 401,184 Gross Profit 186,905 156,016 Operating expenses 77,340 47,362 Net income $ 109,565 $ 108,654 (a) Prepare a horizontal analysis of the income statement data for Blue Spruce Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, eg. - 55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) BLUE SPRUCE CORPORATION Condensed Income Statements For the Years Ended December 31 Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $644,500 $557,200 $ % Cost of goods sold 457,595 401,184 % Gross Profit 186,905 156,016 % Operating expenses 77,340 47,362 % Net income $ 109,565 $ 108,654 $ %
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