Using the Following Income Statements for Conduit Corporation for the Years

question 48

Essay

Using the following income statements for Conduit Corporation for the years ended December 31,2010 and 2009,prepare a horizontal analysis showing both dollar amounts and percentages:
Condun Corporation
Comparative Income Statements
For the Years Ended Decermber 31, 2010 ard 2009
$\begin{array} { l l l } \text { Net sales } & \frac { 2010 } { \$ 145,000 } & \$ \frac { 2009 } { \$ 131,000 } \\ \text { Cost of goods sold } & \frac { 63,000 } { 65,000 } & \frac { 66 } { \mathbf { 8 2 , 0 0 0 } } \end{array}$
Operating expenses:
$\begin{array} { l r r } \text { Selling expenses } & 29,000 & 26,000 \\ \text { General ard adruiristrative } & & \\ \text { Expenses } & \frac { 17,000 } { 14,000 } & \frac { 17,00 } { \$ 25,000 } \\ \text { Operatirg income } & \$ 36,000 & \$ 2,000 \end{array}$

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Definitions:

Protestant Dutch Republic

A historical period in the 16th and 17th centuries when the Netherlands emerged as a leading center for trade, science, and art under Protestant rule.

Merchant Patrons

Individuals or groups from the merchant class who support artists, writers, and intellectuals, often financing their works or acting as collectors.

Art Commissioned

Works of art created or produced specifically for a client or patron, often reflecting the patron's instructions, intentions, or preferences.

Virtuoso Depiction

An artwork or representation done with immense skill and masterful technique, often showcasing the artist's expertise and flair.