Here are the comparative income statements of Culver Corporation.

CULVER CORPORATION

Comparative Income Statement

For the Years Ended December 31

2017

2016

Net sales

$632,600

$548,500

Cost of goods sold

447,800

405,900

Gross Profit

184,800

142,600

Operating expenses

76,500

42,900

Net income

$ 108,300

$ 99,700

Prepare a horizontal analysis of the income statement data for Culver 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%.)

CULVER CORPORATION

Comparative Income Statement

Choose the accounting period

Increase or (Decrease) During 2017

2017

2016

Amount

Percentage

Net sales

$632,600

$548,500

$Enter a dollar amount

Enter percentages rounded to one decimal place

%

Cost of goods sold

447,800

405,900

Enter a dollar amount

Enter percentages rounded to one decimal place

%

Gross Profit

184,800

142,600

Enter a dollar amount

Enter percentages rounded to one decimal place

%

Operating expenses

76,500

42,900

Enter a dollar amount

Enter percentages rounded to one decimal place

%

Net income

$ 108,300

$ 99,700

$Enter a dollar amount

Enter percentages rounded to one decimal place

%

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

CULVER CORPORATION

Condensed Income Statements

Choose the accounting period

2017

2016

$

Percent

$

Percent

Net sales

$632,600

Enter percentages

%

$548,500

Enter percentages

%

Cost of goods sold

447,800

Enter percentages

%

405,900

Enter percentages

%

Gross Profit

184,800

Enter percentages

%

142,600

Enter percentages

%

Operating expenses

76,500

Enter percentages

%

42,900

Enter percentages

%

Net income

$ 108,300

Enter percentages

%

$ 99,700

Enter percentages

%

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