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Vertical analysis Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 Fees earned Expenses Net income
Vertical analysis Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 Fees earned Expenses Net income 2019 2018 $1,682,000 $1,260,000 (848,200) (703,000) $833,800 $557,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Prepare a vertical analysis of Cornea Company's income statements. Round your answers to one decimal place. Cornea Company Income Statements For the Years Ended December 31 2019 2018 Amount Percent Amount Percent Fees earned $ 1,682,000 100 % $ 1,260,000 100 % Expenses (848,200) (703,000) % Net income $ 833,800 % $ 557,000 % b. The vertical analysis indicates a trend.
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