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
|
|
%
|