Perform horizontal analysis

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Question - Artie LLC had the following income statement data for the past 3 years.

2020

2019

2018

Net Sales 300,000

Net Sales 260,000

Net Sales 250,000

Cost of Goods Sold 95,000

Cost of Goods Sold 78,000

Cost of Goods Sold 80,000

Gross Profit 205,000

Gross Profit 182,000

Gross Profit 170,000

Operating Expenses 55,000

Operating Expenses 60,000

Operating Expenses 50,000

Net income 150,000

Net Income 122,000

Net Income 120,000

Required - Perform horizontal analysis, using 2018 as the base year. (Round your answers to 2 decimal places.)

Reference no: EM132781183

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