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How would I solve a problem similar to this? Here are the comparative income statements of Delaney Corporation. DELANEY CORPORATION Comparative Income Statement For the

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How would I solve a problem similar to this?

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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 $ 36,000Prepare 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%.) DELANEY CORPORATION Comparative Income Statement Increase or (Decrease) During 2020 2020 2019 Amount Percentage 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 %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%.) DELANEY CORPORATION Condensed Income Statements 2020 2019 Percent Percent Net sales $598,000 % $500,000 % Cost of goods sold 477,000 9% 420,000 9% Gross Profit 121,000 % 80,000 % Operating expenses 80.000 9% 44.000 % Net income $ 41,000 % $ 36,000 %

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