Exercise 13-6 Here are the comparative income statements of Bridgeport Corp.. BRIDGEPORT CORP. Comparative Income Statement...

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Exercise 13-6 Here are the comparative income statements of Bridgeport Corp.. BRIDGEPORT CORP. Comparative Income Statement F

Prepare a horizontal analysis of the income statement data for Bridgeport Corp., using 2016 as a base. percentages to 1 decim

Prepare a vertical analysis of the income statement data for Bridgeport Corp. for both years. (Rou BRIDGEPORT CORP. Condensed

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Answer 1

Answer #1

1.

BRIDGEPORT CORP. Comparative Income Statement For Year Ended December 31
			Increase or (Decrease) during 2017
	2017	2016	Amount	Percentage
Net sales	$612,400	$531,500	$80,900	15.2%
Cost of goods sold	447,500	409,400	38,100	9.3%
Gross profit	164,900	122,100	42,800	35%
Operating expenses	78,000	49,600	28,400	57.2%
Net income	$86,900	$72,500	$14,400	19.9%

2.

BRIDGEPORT CORP. Condensed Income Statement For Year Ended December 31
	2017		2016
	$	Percent	$	Percent
Net sales	612,400	100%	531,500	100%
Cost of goods sold	447,500	73.1%	409,400	77%
Gross profit	164,900	26.9%	122,100	23%
Operating expenses	78,000	12.7%	49,600	9.3%
Net income	$86,900	14.2%	$72,500	13.7%

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