HORIZONTAL ANALYSIS
INSTRUCTIONS: Prepare a horizontal analysis of the income statement for Moran
Corp. using 2018 as a base.
	Moran Corp.
	Comparative Condensed Income Statement
	For the years ended December 31
	2019	2018
Net Sales	600	500
Cost of goods sold	450	400
Gross Profit	150	100
Operating expenses	54	40
Net Income	96	60