Question
Two income statements for Cornea Company follow: Cornea Company Income Statements For Years Ended December 31 1 2016 2015 2 Fees earned $1,640,000.00 $1,300,000.00 3
Two income statements for Cornea Company follow: Cornea Company Income Statements For Years Ended December 31 1 2016 2015 2 Fees earned $1,640,000.00 $1,300,000.00 3 Operating expenses 869,200.00 715,000.00 4 Operating income $770,800.00 $585,000.00 A. Prepare a vertical analysis of Cornea Companys income statements. B. Does the vertical analysis indicate a favorable or an unfavorable trend?
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Government Auditing Standards
Authors: U.S. Government Accountability Office
1st Edition
B0C9S8NVST, 979-8851147746
