Here are the comparative income statements of Cullumber Corporation.

CULLUMBER CORPORATION Comparative Income Statement For the Years Ended December 31
		2022		2021
Net sales		$619,900		$541,200
Cost of goods sold		464,600		415,500
Gross Profit		155,300		125,700
Operating expenses		70,400		49,600
Net income		$ 84,900		$ 76,100

 

Prepare a horizontal analysis of the income statement data for Cullumber Corporation, using 2021 as a base. (If ame the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) CULLUMBER CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount Percentage Net sales $619,900 $541,200 $ Cost of goods sold 464,600 415,500 % Gross Profit 155,300 125,700 % Operating expenses 70,400 49,600 % Net income $84,900 $76,100 $