Prepare a horizontal analysis of the income statement data for Marks Corporation using 2014 as a base. (Show the amounts of increase or decrease.)

Prepare a horizontal analysis of the income statement data for Marks Corporation using 2014 as a base. (Show the amounts of increase or decrease.)

The comparative condensed income statements of
Marks Corporation are shown below.

MARKS CORPORATION

Comparative
Condensed Income Statements

For the
Years Ended December 31

2015
2014

Net
sales $620,000 $500,000

Cost of
goods sold
450,000
400,000

Gross
profit 170,000 100,000

Operating
expenses 54,000 40,000

Net
income $116,000 $ 60,000

Instructions

(a) Prepare a horizontal analysis of the income
statement data for Marks Corporation using 2014 as a base. (Show the amounts of
increase or decrease.)

(b) Prepare a vertical analysis of the income
statement data for Marks Corporation in columnar form for both years

Price: £ 45

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