Prepare a vertical analysis of the income statement.

Exercise 13-6 (Part Level Submission) Here are the comparative income statements of Blue Spruce Corp. BLUE SPRUCE CORP Comparative Income Sitatement For the Years Ended December 31 2017 2016 Net sales Cost of goods sold Gross Profit Operating expenses Net income $625,500 457,900 167,600 70,800 $96,800 $573,800 434,800 139,000 44,000 $95,000 (a) Your answer is correct. Prepare a horizontal analysis of the income statement data for Blue Spruce Corp., using 20