Question
Here are the comparative income statements of Sandhill Corporation. SANDHILL CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $621,600
Here are the comparative income statements of Sandhill Corporation.
SANDHILL CORPORATION
Comparative Income Statement
For the Years Ended December 31
2022 2021
Net sales $621,600 $541,200
Cost of goods sold 450,400 439,700
Gross Profit 171,200 101,500
Operating expenses 70,300 42,500
Net income $100,900 $59,000
(a)
show the horizontal analysis of the income statement data for Sandhill 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%.)
SANDHILL CORPORATION
Comparative Income Statement
Please select the correct reporting period: for the years ended December 31; for the month ended December 31; December 31
Increase or (Decrease) During 2022
2022 2021 Amount Percentage
Net sales $621,600 $541,200 $ %
Cost of goods sold 450,400 439,700 $ %
Gross Profit 171,200 101,500 $ %
Operating expenses 70,300 42,500 $ %
Net income $100,900 $59,000 $ %
(b)show the vertical analysis of the income statement data for Sandhill Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.)
SANDHILL CORPORATION
Condensed Income Statements
Please select the correct reporting period: for the years ended December 31; for the month ended December 31; December 31
2022 2021
Round the % to the nearest 1 decimal point
$ Percent $ Percent
Net sales $621,600 % $541,200 %
Cost of goods sold 450,400 % 439,700 %
Gross Profit 171,200 % 101,500 %
Operating expenses 70,300 % 42,500 %
Net income $100,900 % $59,000 %
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