ACC 560 MART Education Terms/acc560mart.com ACC 560 MART Education Terms/acc560mart.com | Page 60

2017
2016
Net sales
$600,000

$660,000

Cost of goods sold
420,000

483,000

Gross profit
180,000

177,000

Operating expenses
120,000

125,000

Net income
$ 60,000

$ 52,000

Instructions
a.
Prepare a horizontal analysis of the income statement data for
Emley Corporation using 2016 as a base. (Show the amounts of
increase or decrease.
b. Prepare a vertical analysis of the income statement data for
Emley Corporation in columnar form for both years.
E14-7
Frizell Company has the following comparative balance sheet data.
FRIZELL COMPANY
Balance Sheets
December 31
2017

2016