Question
Here are the comparative income statements of Carla Vista Corporation. CARLA VISTA CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net
Here are the comparative income statements of Carla Vista Corporation. CARLA VISTA CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $637,500 $555,200 Cost of goods sold 454,100 418,600 Gross Profit 183,400 136,600 Operating expenses 74,500 48,700 Net income $ 108,900 $ 87,900 (a) Prepare a horizontal analysis of the income statement data for Carla Vista Corporation, using 2021 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%.) CARLA VISTA CORPORATION Comparative Income Statement choose the accounting period Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $637,500 $555,200 $enter a dollar amount enter percentages rounded to 1 decimal place % Cost of goods sold 454,100 418,600 enter a dollar amount enter percentages rounded to 1 decimal place % Gross Profit 183,400 136,600 enter a dollar amount enter percentages rounded to 1 decimal place % Operating expenses 74,500 48,700 enter a dollar amount enter percentages rounded to 1 decimal place % Net income $ 108,900 $ 87,900 $enter a dollar amount enter percentages rounded to 1 decimal place % (b) Prepare a vertical analysis of the income statement data for Carla Vista Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) CARLA VISTA CORPORATION Condensed Income Statements choose the accounting period 2022 2021 $ Percent $ Percent Net sales $637,500 enter percentages rounded to 1 decimal place % $555,200 enter percentages rounded to 1 decimal place % Cost of goods sold 454,100 enter percentages rounded to 1 decimal place % 418,600 enter percentages rounded to 1 decimal place % Gross Profit 183,400 enter percentages rounded to 1 decimal place % 136,600 enter percentages rounded to 1 decimal place % Operating expenses 74,500 enter percentages rounded to 1 decimal place % 48,700 enter percentages rounded to 1 decimal place % Net income $ 108,900 enter percentages rounded to 1 decimal place % $ 87,900 enter percentages rounded to 1 decimal place %
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