(L. OBJ. 1) Horizontal analysis-income statement [10—15 min] Data for Verifine Designs,...

(L. OBJ. 1) Horizontal analysis-income statement [10—15 min]

Data for Verifine Designs, Inc., follow:

Requirements

1. Prepare a horizontal analysis of the comparative income statement of Verifine Designs, Inc. Round percentage changes to the nearest one-tenth percent (three decimal places).

2. Why did 2011 net income increase by a higher percentage than net sales revenue?