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Income statements for Burch Company for 2018 and 2019 follow: BURCH COMPANY Income Statements 2019 2018...

Income statements for Burch Company for 2018 and 2019 follow:

BURCH COMPANY
Income Statements
2019 2018
Sales $ 240,000 $ 200,000
Cost of goods sold 180,000 124,000
Selling expenses 26,000 20,000
Administrative expenses 12,000 18,000
Interest expense 7,500 8,000
Total expenses $ 225,500 $ 170,000
Income before taxes 14,500 30,000
Income taxes expense 1,200 3,000
Net income $ 13,300 $ 27,000

Required

a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019.

b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year.

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Expert Solution

ekkarill92 answered 1 year ago
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