For the Years Ended December 31 20Y8 $1,340,000 (833,000) $507,000 Fees earned Expenses X Net income This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet 20Y9 $1,619,000 (848,700) $770,300 a. Prepare a vertical analysis of Cornea Company's income statements. Round your answers to one decimal place. Cornea Company Income Statements For the Years Ended December 31 20Y9 Amount 20Y9 Percent 20Y8 Amount 20Y8 Percent 100 % Fees earned Expenses Net income $1,619,000 (848,700) $770,300 100 % % % b. The vertical analysis indicates a favorable $1,340,000 (833,000) $507,000 trend. % %
For the Years Ended December 31 20Y8 $1,340,000 (833,000) $507,000 Fees earned Expenses X Net income This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet 20Y9 $1,619,000 (848,700) $770,300 a. Prepare a vertical analysis of Cornea Company's income statements. Round your answers to one decimal place. Cornea Company Income Statements For the Years Ended December 31 20Y9 Amount 20Y9 Percent 20Y8 Amount 20Y8 Percent 100 % Fees earned Expenses Net income $1,619,000 (848,700) $770,300 100 % % % b. The vertical analysis indicates a favorable $1,340,000 (833,000) $507,000 trend. % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For the Years Ended December 31
20Y9
20Y8
$1,619,000
$1,340,000
(848,700)
(833,000)
$770,300
$507,000
Fees earned
Expenses
Net income
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required
analysis, and input your answers in the questions below.
X
Open spreadsheet
a. Prepare a vertical analysis of Cornea Company's income statements. Round your answers to one decimal place.
Cornea Company
Income Statements
For the Years Ended December 31
20Y9 Amount 20Y9 Percent 20Y8 Amount 20Y8 Percent
Fees earned
Expenses
Net income
$1,619,000
(848,700)
$770,300
100 %
%
%
b. The vertical analysis indicates a favorable
$1,340,000
(833,000)
$507,000
trend.
100 %
%
%
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