8. Use the following Comparative Income Statement to prepare the HORIZONTAL ANALYSIS for Social Distance...
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8. Use the following Comparative Income Statement to prepare the HORIZONTAL ANALYSIS for Social Distance Company, for 2020 & 2019. Round answers to 1 decimal point. 15 Points Social Distance Company Comparative Income Statement Years Ended December 31, 2020 and 2019 Increase (Decrease) 2020 2019 Amount Percentage Net Sales Revenue $481,000 $394.000 Expenses: Cost of Goods Sold 265,000 241,000 Selling & Admin Expenses 98,000 84,000 Other Expenses 4,600 6.100 Total Expenses $367,600 $331,100 Net Income $113,400 $62,900
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