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Vertical analysis Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 2019 2018 Fees earned $1,640,000 $1,350,000
Vertical analysis Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 2019 2018 Fees earned $1,640,000 $1,350,000 Expenses (852,800) (742,500) Net income $787,200 $607,500 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 2049 Amount Percent Amount $1,640,000 % $1,350,000 (852,800) % (742,500) $787,200 % $607,500 2018 Percent Fees earned Expenses Operating income b. Does the vertical analysis indicate a favorable or an unfavorable trend
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