Horizontal and vertical analysis
Income statements for Sennett Company for 2008 and 2009 follow.
|Cost of goods sold||75,000||51,000|
|Income before taxes||11,000||11,000|
|Income taxes expense||3,000||2,000|
|Net income||$ 8,000||$ 9,000|
a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2008 and 2009.
b. Perform a vertical analysis, showing each income statement component as a percent of sales for each year.
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