Horizontal analysis
Two income statements for Fuller Company are shown on the following page
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Fuller Company Income Statements For Years Ended December 31 |
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|
2014 |
2013 |
|
|
Fees earned |
$680,000 |
$850,000 |
|
Operating expenses |
541,875 |
637,500 |
|
Net income |
$138,125 |
$212,500 |
Prepare a horizontal analysis of Fuller Company’s income statements.