- Here Are The Comparative Income Statements Of Blossom Corporation Blossom Corporation Comparative Income Statement For 1 (42.13 KiB) Viewed 26 times
(a) Prepare a horizontal analysis of the income statement data for Blossom Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) Net sales Cost of goods sold Gross Profit Operating expenses Net income 2022 $639,600 449,300 190,300 72,700 $ 117,600 BLOSSOM CORPORATION Comparative Income Statement 2021 $534,300 414,500 119,800 49,300 $ 70,500 $ $ Increase or (Decrease) During 2022 Amount Percentage do % % % % %
(b) Prepare a vertical analysis of the income statement data for Blossom Corporation for both years. (Round percentages to 1 decimal place, e.g. 12.1%.) Net sales Cost of goods sold Gross Profit Operating expenses Net income $ $639,600 449,300 190,300 72,700 $ 117,600 BLOSSOM CORPORATION Condensed Income Statements 2022 Percent % % % % % $ $534,300 414,500 119,800 49,300 $ 70,500 2021 Percent % % % % %