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Two inco eBook tements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 2079 20Y8 Fees earned $1,550,000 (744,000) $1,240,000
Two inco eBook tements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 2079 20Y8 Fees earned $1,550,000 (744,000) $1,240,000 (682,000) Expenses Net income $806,000 $558,000 Required: a. Prepare a vertical analysis of Cornea Company's income statements. If required, round your percentage to the nearest whole number. Cornea Company Income Statements For the Years Ended December 31 20Y9 2018 Amount Percent Amount Percent Fees earned $1,550,000 % % $1,240,000 % (682,000) Expenses (744,000) % Operating income $806,000 % $558,000 % b. Does the vertical analysis indicate a favorable or an unfavorable trend
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