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.