Prepare a vertical analysis of the income statement data

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Reference no: EM13588606

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

INDRA CORPORATION Comparative Condensed Income Statements For the Years Ended December 31
	2013	2012
Net sales	$602,520	$503,500
Cost of goods sold	480,790	419,460
Gross profit	121,730	84,040
Operating expenses	58,240	46,820
Net income	$63,490	$37,220

(a) Prepare a horizontal analysis of the income statement data for Indra Corporation using 2012 as a base. (Show the amounts of increase or decrease.) (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. 12.3%.)

INDRA CORPORATION Condensed Income Statements For the Years Ended December 31
			Increase or (Decrease) During 2013
	2013	2012	Amount	Percentage
Net sales	$602,520	$503,500	$	%
Cost of goods sold	480,790	419,460		%
Gross profit	121,730	84,040		%
Operating expenses	58,240	46,820		%
Net income	$63,490	$37,220	$	%

(b) Prepare a vertical analysis of the income statement data for Indra Corporation in columnar form for both years. (Round percentages to 1 decimal place, e.g. 12.3%.)

INDRA CORPORATION Condensed Income Statements For the Years Ended December 31
	2013		2012
	Amount	Percent	Amount	Percent
Net sales	$602,520	%	$503,500	%
Cost of goods sold	480,790	%	419,460	%
Gross profit	121,730	%	84,040	%
Operating expenses	58,240	%	46,820	%
Net income	$ 63,490	%	$ 37,220	%

Reference no: EM13588606

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