The comparative condensed income statements of Indra Corporation are shown below.

INDRA CORPORATION Comparative Condensed Income Statements For the Years Ended December 31
		2013		2012
Net sales		$602,520		$503,500
Cost of goods sold		480,790		419,460
Gross profit		121,730		84,040
Operating expenses		58,240		46,820
Net income		$63,490		$37,220

(a) Prepare a horizontal analysis of the income statement data for Indra Corporation using 2012 as a base. (Show the amounts of increase or decrease.) (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, e.g. 12.3%.)

INDRA CORPORATION Condensed Income Statements For the Years Ended December 31
					Increase or (Decrease) During 2013
	2013		2012		Amount		Percentage
Net sales	$602,520		$503,500		$		%
Cost of goods sold	480,790		419,460				%
Gross profit	121,730		84,040				%
Operating expenses	58,240		46,820				%
Net income	$63,490		$37,220		$		%

(b) Prepare a vertical analysis of the income statement data for Indra Corporation in columnar form for both years. (Round percentages to 1 decimal place, e.g. 12.3%.)

INDRA CORPORATION Condensed Income Statements For the Years Ended December 31
	2013				2012
	Amount		Percent		Amount		Percent
Net sales	$602,520		%		$503,500		%
Cost of goods sold	480,790		%		419,460		%
Gross profit	121,730		%		84,040		%
Operating expenses	58,240		%		46,820		%
Net income	$ 63,490		%		$ 37,220		%