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Perform horizontal analysis for the income statements below. Round answers to one decimal place. 2021 2020 $Change %Change Net Sales 580,000 415,000 Cost of Goods
Perform horizontal analysis for the income statements below. Round answers to one decimal place. 2021 2020 $Change %Change Net Sales 580,000 415,000 Cost of Goods Sold 285,000 205,000 Gross Profit 295,000 210,000 Operating Expenses 140,000 80,000 Operating Income 155,000 130,000 Interest Expense 6,000 5,000 Income before taxes 149,000 125,000 Income Taxes 24,000 20,000 Net Income 125,000 105,000
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