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please The comparative condensed income statements of Sparks Corporation are shown below. SPARKS CORPORATION Comparative Condensed Income Statements For the Years Ended December 31 2019
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The comparative condensed income statements of Sparks Corporation are shown below. SPARKS CORPORATION Comparative Condensed Income Statements For the Years Ended December 31 2019 2018 Net sales $640,000 $530,000 Cost of goods sold 450,000 410,000 Gross profit 190,000 120,000 Operating expenses 63,000 50.000 Net income $127.000 $ 70.000 Instructions (a) Prepare a horizontal analysis of the income statement data for Sparks Corporation using 2018 as a base. (Show the amounts of increase or decrease.) (b) Prepare a vertical analysis of the income statement data for Sparks Corporation in columnar form for both yearsStep by Step Solution
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