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Vertical analysis Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 20Y9 20Y8 Fees earned $1,590,000
Vertical analysis Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 20Y9 20Y8 Fees earned $1,590,000 $1,320,000 Expenses (795,000) (792,000) Net income $795,000 $528,000 Required: a. Prepare a vertical analysis of Cornea Company's income statements. If required, round your percentage Cornea Company Income Statements For the Years Ended December 31 20Y9 20Y8 Amount Percent Amount Percent Fees earned $1,590,000 Expenses (795,000) % $1,320,000 % (792,000) % % Operating income $795,000 % $528,000 % b. Does the vertical analysis indicate a favorable or an unfavorable trend?
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