Here are the comparative income statements of Delaney Corporation.

Delaney Corporation

Comparative Income Statements

For the Years Ended December 31

2020

2019

Net sales$650,000$536,000Cost of goods sold511,550445,416Gross profit138,45090,584Operating expenses90,35050,920Net income$48,100$39,664

(a)

horizontal analysis of the income statement data for Delaney Corporation, using 2019 as a base. (Show the amounts of increase or decrease.)(Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.)

DELANEY CORPORATION

Condensed Income Statements

For the Months Ended December 31

December 31

For the Years Ended December 31

Increase or (Decrease)

During 2020

2020

2019

Amount

Percentage

Net sales

$650,000

$536,000

$

%

Cost of goods sold

511,550

445,416

%

Gross profit

138,450

90,584

%

Operating expenses

90,350

50,920

%

Net income

$48,100

$39,664

$

%

(b)

vertical analysis of the income statement data for Delaney Corporation for both years.(Round percentages to 1 decimal place, e.g. 12.3%.)

DELANEY CORPORATION

Condensed Income Statements

December 31

For the Months Ended December 31

For the Years Ended December 31

2020

2019

Amount

Percent

Amount

Percent

Net sales

$650,000

%

$536,000

%

Cost of goods sold

511,550

%

445,416

%

Gross profit

138,450

%

90,584

%

Operating expenses

90,350

%

50,920

%

Net income

$48,100

%

$39,664

%