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The following Comparative Income Statements were given for LILLY Corp.: LILLY Corp. Comparative Income Statements For Years Ended December 31, 2030 and 2029 2030 2029
The following Comparative Income Statements were given for LILLY Corp.: LILLY Corp. Comparative Income Statements For Years Ended December 31, 2030 and 2029 2030 2029 2028 Sales $1,000,000 $750,000 600,000 600,000 420,000 400,000 Cost of Goods Sold Gross Profit 400,000 330,000 200,000 120,000 100,000 100,000 Selling Expenses General 130,000 130,000 85,000 Expenses Net Income $150,000 $100,000 15,000 PART B Calculate the Trend Analysis for Sales for LILLY Corp. using year 2028 as the base year. LILLY CORP. Trend Percentages 2030 2029 2028 Sales
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