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Horizontal/Vertical Analysis

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The comparative condensed income statements of Hendi Corporation are shown below.
HENDI CORPORATION
Comparative Condensed Income Statements
For the Years Ended December 31
2009 2008
Net sales $604,400 $506,400
Cost of goods sold 487,800 426,400
Gross profit 116,600 80,000
Operating expenses 58,100 45,300
Net income $ 58,500 $ 34,700

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The solution explains how to prepare a horizontal and a vertical analysis.

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