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# 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 %

#### 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.

\$2.19