Question the comparative condensed income statements of

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Reference no: EM13348896

Question :

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

MARKS CORPORATION

Comparative Condensed Income Statements

For the Years Ended December 31

2013 2012

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

Total income $116,000 $ 60,000

Instructions

(a) Purpose a horizontal analysis of the income statement data for Marks Corporation using 2013 as a base.

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

Reference no: EM13348896

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