Winfrey Corporation Analysis
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Here are the comparative income statements of Winfrey Corporation.
WINFREY CORPORATION
Comparative Income Statements
For the Years Ended December 31
2010 2009
Net sales $598,000 $520,000
Cost of goods sold 477,000 450,000
Gross profit $121,000 $70,000
Operating expenses 80,000 45,000
Net income $41,00 $25,000
Complete the horizontal analysis of the income statement data for Winfrey Corporation using 2009 as a base. (Round all percentages to 1 decimal place, e.g. 12.5.)
WINFREY CORPORATION
Condensed Income Statements
For the Years Ended December 31
Increase or (Decrease)
During 2010
2010 2009 Amount Percentage
Net sales $598,000 $520,000 $ %
Cost of goods sold 477,000 450,000 %
Gross profit 121,000 70,000 %
Operating expenses 80,000 45,000 %
Net income $41,000 $25,000 $ %
Complete the vertical analysis of the income statement data for Winfrey Corporation for both years. (Round all percentages to 1 decimal place, e.g. 12.5.)
WINFREY CORPORATION
Condensed Income Statements
For the Years Ended December 31
2010 2009
$ Percent $ Percent
Net sales $598,000 % $520,000 %
Cost of goods sold 477,000 % 450,000 %
Gross profit 121,000 % 70,000 %
Operating expenses 80,000 % 45,000 %
Net income $41,000 % $25,000 %
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Solution Summary
Here are the comparative income statements of Winfrey Corporation. Complete the horizontal analysis of the income statement data for Winfrey Corporation using 2009 as a base.
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