Here are the comparative income statements of Delaney Corporation.

DELANEY CORPORATION Comparative Income Statement For the Years Ended December 31
		2020		2019
Net sales		$598,000		$500,000
Cost of goods sold		477,000		420,000
Gross Profit		121,000		80,000
Operating expenses		80,000		44,000
Net income		$ 41,000		$ 36,000

a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2019 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%.)

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

Here are the comparative income statements of Delaney Corporation. DELANEY CORPORATION Comparative Income Statement For the Years Ended December 31 2020 2019 Net sales $598,000 $500,000 Cost of goods sold 477,000 420.000 Gross Profit 121,000 80,000 Operating expenses 80,000 44,000 Net income $ 41,000 $36,000 (a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2019 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, eg. 12.1%.) DELANEY CORPORATION Comparative Income Statement Increase or (Decrease) During 2020 Amount Percentage 2020 2019 Net sales $598,000 $500,000 $ % Cost of goods sold 477,000 420,000 % Gross Profit 121,000 80,000 % Operating expenses 80,000 44,000 Net income $ 41,000 $36,000 $ % (b) Prepare a vertical analysis of the income statement data for Delaney Corporation for both years. (Round percentages to 1 decimal place, eg. 12.1%) DELANEY CORPORATION Condensed Income Statements 2020 Percent 2019 Percent Net sales $598,000 % $500,000 % Cost of goods sold 477,000 % 420.000 % Gross Profit 121,000 % 80,000 % Operating expenses 80,000 % 44,000 % Net income $ 41,000 % $36,000 %