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Prepare a horizontal analysis of the income statement data for Pina Colada Corp.,...

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Accounting

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Prepare a horizontal analysis of the income statement data for Pina Colada Corp., using 2018 as 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 1 decimal place, e.g. 12.1%.) PINA COLADA CORP. Comparative Income Statement For the Years Ended December 31 Increase or (Decrease) During 2019 2019 2018 Amount Percentage $648,000 $540,000 S 108000 (16.67) % Net sales 5162 Cost of goods sold 517,104 465,480 |(9.98) % X Gross Profit 130,896 74,520 (43.07) % 56376 37476 (43.81) % Operating expenses 85,536 48,060 18900 $26,460 $45,360 (41.67) % Net income

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