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Here are the comparative income statements of Delaney Corporation

Accounting

Here are the comparative income statements of Delaney Corporation. Delaney Corporation Comparative Income Statements For the Years Ended December 31 2020 2019 Net sales $676,000 $561,000 Cost of goods sold 531,336 462,264 Gross profit 144,664 98,736 Operating 93,964 52,734 expenses Net income $ 50,700 $ 46,002 (a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2019 as a b and percentages using either a negative sign preceding the number e.g. -45, -45% or parent 12.3%.) DELANEY CORPORATION Condensed Income Statements Increase or (Decrease) During 2020 Amount Percentage 2020 2019 Net sales $676,000 $561,000 vacy Policy 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. amu percemages using errer a regative sign preceumg wie Trumber e.y. -45, 12.3%) DELANEY CORPORATION Condensed Income Statements Increase or (Decrease) During 2020 2020 2019 Amount Percentage Net sales $676,000 $561,000 $ % Cost of goods sold 531,336 462,264 % Gross profit 144,664 98,736 % Operating expenses 93,964 52,734 % Net income $50,700 $46,002 $ % (b) Prepare a vertical analysis of the income statement data for Delaney Corporation for DELANEY CORPORATION Condensed Income Statements 2020 2019 Prepare a vertical analysis of the income statement data for Delaney Corporation for both DELANEY CORPORATION Condensed Income Statements 2020 2019 Amount Percent Amount Percent Net sales $676,000 $561,000 % % Cost of goods sold 531,336 462,264 % % Gross profit 144,664 98,736 % % Operating expenses 93,964 % 52,734 % Net income $ 50,700 % $ 46,002 % Click if you would like to Show Work for this question: Open Show Work

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