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Question - 1. Using the information below, prepare a vertical analysis for the income statement for 2017.
2. Using the information below, prepare a horizontal analysis of the income statement from 2017.
Artie's Painting Income Statement For the Years Ending December 31, 2016 and 2017
2017
2016
Net sales
$24,789
$23,642
Cost of goods sold
15,323
14,239
Gross profit
9,466
9,403
Operating expenses
3,873
3,702
Net income
5,593
5,701
Dec. 31 Net income is $2,104,000. Prepare the stockholders' equity section for Cullumber Company at December 31, 2021
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