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Exercise A Income statement data for Boston Company for 2015 and 2016 follow:
2015 2016
Net sales $2,610,000 $1,936,000
Cost of goods sold 1,829,600 1,256,400
Selling expenses 396,800 350,000
Administrative expenses 234,800 198,400
Federal income taxes 57,600 54,000
Prepare a horizontal analysis.
Prepare vertical analysis of the income data using net sales as the base.
Comment on the results of this analysis.
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