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Exercise 13-06 a-b Your answer is partially correct. Try again. Here are the comparative Income statements of Concord Corporation CONCORD CORPORATION Comparative Income Statement For the Years Ended December 31 2020 2019 Net sales $636,000 $530,000 Cost of goods sold 512,616 452.620 Grass Pront 123,384 77,380 Operat ng expenses 79,500 43,460 Net income $ 43,884 $ 33,920 (a) Prepare a horizontal analysis of the income statement data for Concord Corporation, using 2019 us a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to I decimal place, e.g. 12.1%.) CONCORD CORPORATION Comparative Income Statement For the Years Ended December 31 : Increase or Decrease) During 2020 2020 2019 Amount Percentage Net sales $636,000 $530,000 106000 21% Cost of goods sold 512,616 452,620 59996 13.2 Gross Pro 123,384 77,380 46004 5.01 Operating exorises 79,500 43,460 36010 8.21 Net income $ 43,894 $ 32,920 5964 (b) Prepare a vertical analysis of the income statement data for Concord Corporation for both years. (Round percentages to I decimal place, c.g. 12.1%) CONCORD CORPORATION Condensed Income Statements For the Years Ended December 31 2020 2019 s Percent Percent Ne les $636,000 W $530,000 Cost of goods sold 512,616 452,620 Gross Pro 123,384 77,360 Operating expenses 79,500 43,460 90 Net Income $ 43,884 $ 33,920 990 Click If you would like to show Work for this question: Open Show Work

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