Part B only

Here are the comparative income statements of Indigo Corporation. INDIGO CORPORATION Comparative Income Statement For the Years Ended December 31 2019 2018 Net sales Cost of goods sold Gross Profit Operating expenses Net income $552,000 429,456 122,544 71,760 $50,784 $460,000 376,280 83,720 39,100 $44,620 Prepare a horizontal analysis of the income statement data for Indigo Corporation, using 2018 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%.) INDIGO CORPORATION Comparative Income Statement For the Years Ended December 31 Increase or (Decrease) During 2019 2019 2018 Amount Percentage $552,000 $460,000 Cost of goods sold 429,456 376,280 83,720 Operating expenses 71,760 39,100 50,784 44,620 Net sales 92000 20% 53176 14.1 % Gross Profit 122,544 38824 46.4 % 32660 83.5 % Net income 6164 13.8 % Prepare a vertical analysis of the income statement data for Indigo Corporation for both years. (Round percentages to 1 decimal place, eg, 12.1%.) INDIGO CORPORATION Condensed Income Statements For the Years Ended December 31 2019 2018 Percent Percent $552,000 Cost of goods sold 429,456 122,544 Operating expenses 71,760 50,784 96 $460,000 % 376,280 % 83,720 % 39,100 % $44,620 Net sales Gross Profit Net income