S13-1

(Learning Objective 1: Perform horizontal analysis of revenues and net income) Verifine Corporation reported the following amounts on its 2012 comparative income statements:

(In thousands)	2012	2011	2010
Revenues	$10,289	$10,045	$9,449
Total expenses	5,915	5,238	5,100

Perform a horizontal analysis of revenues and net income