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Fill in the missing amounts and perform a horizontal analysis of the income statement below....

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Question

Accounting

  1. Fill in the missing amounts and perform a horizontal analysis of the income statement below. What was the profit margin each year? Is this company doing better or worse in 2019 compared to 2018?

ABC Brownie Stop

Comparative Income Statement

Years ended 9/30/2018 & 9/30/2019

2019

2018

Difference ($)

Difference (%)

Net Sales

$9,000

$8,000

Cost of Goods Sold

$4,500

$3,750

Gross Profit

Operating Expenses

$2,235

$2,182

Income before taxes

Taxes

$1,100

$1,029

Net Income

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