Vertical analysis for income statement
For 20Y6, Fishing Experiences Inc. initialed a sales promotion campaign that included the expenditure of an additional $45,000 for advertising. At the end of the year, Colt Schultz. the president, is presented with the following condensed comparative income statement:
Instructions
Prepare a comparative income statement for the two-year period, presenting a vertical analysis of each item in relationship to sales for each of the years.
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