Question Help 0 Tronic Corporation makes iPod covers and has the flowing comparative income statement for years ended December 31, 2017 and 2016 mick the icon to view the comparative income statement.) Requirements Perform a horizontal analysis and a vertical analysis of Tronic Corporation State whether 2017 was a good year or a bad year, and give your reasons. Begin by completing a horizontal analysis of Tronic Corporation's income statement. (Use a minus sign or perhees to show an amount and or percentage decrease. Round all percentages to the newest barth percent, XX Complete all input boxes in the base amount is 50, entera o in the percentage column) Tronic Corporation Income Statement Years Ended December 31, 2017 and 2016 Increase (Decrease 2017 2016 Amount Percentage Revenues Net Sales 5 1.300.000 S 1.200,000 Other Revenues 9.600 Total Revenues 1.300.000 1,209,600 Expenses Cost of Goods Sold 930,800 BOT 600 Engineering Seling, and Administrative Expenses 241.800 235.200 Interest Expense 23.400 30,000 Income Tax Expense 36,400 7.200 the Fun 2,600 0 SPE-1 (similar to) Tronic Corporation makes iPod covers and has the following comparative income statement for years ended Decemb (Click the icon to view the comparative income statement.) Requirements Perform a horizontal analysis and a vertical analysis of Tronic Corporation. State whether 2017 was a good year or a Income Statement Years Ended December 31, 2017 and 2016 Increase (Decrease) Amount Percentgge 2017 2016 Revenues: Net Sales % $ 1,300,000 $ 1,200,000 0 9,600 Other Revenues % 1,300,000 1,209,600 % 930,800 % 807,600 235,200 % Total Revenues Expenses: Cost of Goods Sold Engineering, Selling, and Administrative Expenses Interest Expense Income Tax Expense Other Expenses Total Expenses 30,000 % 241,800 23,400 36,400 2,600 7,200 % 0 % 1,235,000 1,080,000 Net Income 65,000 $ 129,600 Enter any number in the edit fields and then click Check Answer. parts Tronic Corporation Income Statement Years Ended December 31, 2017 and 2016 2017 2016 Revenues: Net Sales $ 1,300,000 $ 1,200,000 0 9,600 Other Revenues Total Revenues 1,300,000 1,209,600 807,600 930,800 241,800 Expenses: Cost of Goods Sold Engineering, Selling, and Administrative Expenses Interest Expense Income Tax Expense Other Expenses Total Expenses 235,200 30,000 23,400 7,200 36,400 2,600 0 1,235,000 1,080,000 Net Income $ 65,000 $ 129,600