The following income statement items are available from Dansby Inc. for the years ending December 31:

Required
a. Prepare a comparative, multi-step income statement for Dansby Inc.
b. Perform horizontal and vertical analyses and interpret the results. Round percentages to one decimal point (i.e., 10.1%).
c. Assume the following change in information: Cost of sales in 2012, $62,470 and in 2011, $45,670. Does this new information change any interpretations previously made?

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Advertising expense Commissions expense Cost of sales Income tax expense Insurance expense Interest expense Interest revenue Sales Supplies expense Salaries expense Rent expense 2012 7,765 4,879 48,596 2,217 4,897 2,584 4,287 95,950 1,654 19,320 7,634 2011 9,789 6,010 58,896 2,684 5,236 2,695 4,189 106,569 2,106 21,012 7,856