Here are the comparattive income statements of Georgia Development Corporation.

Georgia development corporation

Comparative income statements

For the years ended December 31

December 31, 2014 December 31, 2013

Net sales $600,000 $500,000

Cost of goods sold 414,000 350,000

Gross profit 186,000 150,000

Operating expenses 150,000 120,000

Net income $36,000 $30,000

Instructions (A) prepare a horizontal analysis of the income statement data for Georgia Development Corporation using 2013 as a base (show the amounts of increase of decrease.) (B) prepare a vertical analysis if the income statement data for Georgia Development corporation for both years.