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Performing a Vertical and Horizontal Analysis Complete a vertical analysis of the following income statement from Gomez Corporation. Do not use a negative sign in
Performing a Vertical and Horizontal Analysis Complete a vertical analysis of the following income statement from Gomez Corporation. Do not use a negative sign in your answers. Round to the nearest whole percentage point (for example, enter 60 for 60.4% or 61 for 60.5%). Vertical Analysis Income Statement for Year Ended December 31 Current Year Prior Year Current Year % of Sales Prior Year % of Sales Revenues $50,000 $55,000 Cost of goods sold 32,000 36,000 Gross margin 18,000 19,000 Operating expenses 11,000 12,500 Net income $ 7,000 $ 6,500 Complete a horizontal analysis of the following income statement from Gomez Corporation. Use a negative sign to indicate a decrease. Round to the nearest whole percentage point (for example, enter 60
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