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Prepare a comparative income statement for 20x2 and 20x1

Vertical Analysis. The Lyons Corporation reported the following income statement data:

	20X2	20X1
Net Sales	$400,000	$250,000
Cost of goods sold	$280,000	$160,000
Operating expenses	$75,000	$56,000

(a) Prepare a comparative income statement for 20X2 and 20X1 using vertical analysis, and evaluate the results.

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Cost Accounting: Prepare a comparative income statement for 20x2 and 20x1

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Cost Accounting: Prepare a comparative income statement for 20x2 and 20x1

Reference No:- TGS0806831

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