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2017
2016
Net sales
$660,000 $600,000
Cost of goods sold
483,000 420,000
Gross profit
177,000 180,000
Operating expenses
125,000
120,000
Net income
52,000
$
$ 60,000
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