Here are the comparative condensed income statements of Vaughn Corporation. Vaughn Corporation Condensed Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Operating expenses Net income 2022 $676,000 531,336 144,664 93,964 $50,700 2021 $561,000 462,264 98,736 52,734 $46,002

Here are the comparative condensed income statements of Cheyenne Corporation. CHEYENNE CORPORATIONCondensed Income StatementsFor the Years Ended December 31               2022   2021 Net sales   $588,000   $490,000 Cost of goods sold   474,516   416,010 Gross profit   113,484   73,990 Operating expenses   80,556   44,100 Net income   $ 32,928   $ 29,890 (a)Prepare a horizontal analysis of the income statement data for Cheyenne Corporation, using 2021 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%.) CHEYENNE CORPORATIONCondensed Income Statementschoose the accounting period                                                                      Increase or (Decrease) During 2022   2022   2021   Amount   Percentage Net sales $588,000   $490,000   $enter a dollar amount    enter…

Mac Donald company reported the following on its comparative income statement:     2017 2018 2019 Revenue 9,000 10,000 14,000 Cost of goods sold 6,000 4,000 9,000   Prepare a horizontal analysis of revenue , cost of goods sold and gross profit

The comparative statements of Wildhorse Co. are presented here: WILDHORSE CO.Income StatementsFor the Years Ended December 31     2022   2021 Net sales   $1,892,340   $1,752,300 Cost of goods sold   1,060,340   1,007,800 Gross profit   832,000   744,500 Selling and administrative expenses   501,800   480,800 Income from operations   330,200   263,700 Other expenses and losses            Interest expense   23,700   21,700 Income before income taxes   306,500   242,000 Income tax expense   93,700   74,700 Net income   $212,800   $167,300   WILDHORSE CO.Balance SheetsDecember 31 Assets   2022   2021 Current assets            Cash   $60,100   $64,200    Debt investments (short-term)   74,000   50,000    Accounts receivable (net)   119,600   104,600    Inventory   127,700   117,200      Total current assets   381,400   336,000 Plant assets (net)   663,000   534,300…

Data for Kahn, Inc. follows:                                          Kahn, Inc. Comparative Income Statement   Years Ended Dec. 31, 2019 and 2018                                                      2019           2018 Net Sales Revenue                                       550,000       500,000    Expenses:                                                      Cost of Goods Sold                                      245,000       220,000 Selling and Administrative Expenses            100,000       96,000      Other Expenses (Interest Expense)                12,000         9,000       Income Tax Expense                                       58,000       47,000 Total Expenses                                                415,000     372,000 Net Income                                                    135,000      128,000   Prepare a horizontal analysis of the comparative income statement of Kahn, Inc. (Round to one decimal place.)

Retail Corporation reported the following Income Statement for the past two years: Retail Corporation Comparative Income Statement For the Years Ended December 31, 2021 and 2020       2021   2020         Amount   Amount     Sales    $  30,100,100    $  26,210,200     Cost of goods sold      22,425,500        18,950,800     Gross profit          7,674,600          7,259,400     Selling expenses        1,525,500          1,480,600     Administrative expenses        1,425,300          1,325,000     Total operating expenses        2,950,800          2,805,600     Income from operations        4,723,800          4,453,800     Interest Expense            190,500              210,600     Other income                62,500                55,500     Income before income tax        4,595,800          4,298,700     Income tax expense        1,608,500          1,312,400     Net income    $    2,987,300    $    2,986,300                 a. What was Retail…

Selected comparative financial statements of Korbin Company follow.  KORBIN COMPANY Comparative Income Statements For Years Ended December 31   2021 2020 2019 Sales $ 508,246 $ 389,358 $ 270,200 Cost of goods sold 305,964 246,853 172,928 Gross profit 202,282 142,505 97,272 Selling expenses 72,171 53,731 35,666 Administrative expenses 45,742 34,264 22,427 Total expenses 117,913 87,995 58,093 Income before taxes 84,369 54,510 39,179 Income tax expense 15,693 11,175 7,953 Net income $ 68,676 $ 43,335 $ 31,226   KORBIN COMPANY Comparative Balance Sheets December 31   2021 2020 2019 Assets       Current assets $ 60,248 $ 40,324 $ 53,904 Long-term investments 0 1,000 3,350 Plant assets, net 113,627 103,113 62,412 Total assets $ 173,875 $ 144,437 $ 119,666 Liabilities and Equity       Current liabilities $ 25,386 $ 21,521 $ 20,942 Common stock 66,000 66,000 48,000 Other paid-in capital 8,250 8,250 5,333 Retained earnings 74,239 48,666…

The income statement of Sweet Company is shown below. SWEET COMPANYINCOME STATEMENTFOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue       $6,960,000 Cost of goods sold            Beginning inventory   $1,910,000        Purchases   4,380,000        Goods available for sale   6,290,000        Ending inventory   1,610,000        Cost of goods sold       4,680,000 Gross profit       2,280,000 Operating expenses            Selling expenses   450,000        Administrative expenses   710,000   1,160,000 Net income       $1,120,000 Additional information: 1.   Accounts receivable decreased $380,000 during the year. 2.   Prepaid expenses increased $190,000 during the year. 3.   Accounts payable to suppliers of merchandise decreased $290,000 during the year. 4.   Accrued expenses payable decreased $90,000 during the year. 5.   Administrative expenses include depreciation expense of $70,000. Prepare…

The comparative statements of crane company are presented here. Crane Company Income Statement For the Years Ended December 31   2022 2021 Net sales $1,810,000 $1,745,000 Cost of goods sold 1,005,000 970,000 Gross profit 805,000 775,000 Selling and administrative expenses 511,000 472,000 Income from operations 294,000 303,000 Other expenses and losses        Interest expense 17,000 13,000 Income before income taxes 277,000 290,000 Income tax expense 77,500 76,000 Net income 199500 214000       Crane Company Balance Sheets 31-Dec Assets 2022 2021 Current assets         Cash $59,000 $63,000     Debt investments (short-term) 68,000 49,000     Accounts receivable (net) 116,000 101,000     Inventory 122,000 114,000       Total current assets 365,000 327,000 Plant assets (net) 595,000 515,000 Total assets $960,000 $842,000 Liabilities and Stockholders’ Equity     Current liabilities         Accounts payable $159,000 $144,000…

please explain the result of income statement that provided in image below