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 %