Question;For 2012, Greyhound Technology;Company reported its most significant decline in net income in years. At the;end of the year, Duane Vogel, the president, is presented with the following;condensed comparative income statement;Instructions;1. Prepare;a comparative income statement with horizontal analysis for the twoyear period;using 2011 as the base year. Round to one decimal place.;2. To;the extent the data permit, comment on the significant relationships revealed;by the horizontal analysis prepared in (1).;(Warren 362-363);Warren;Carl S. Survey of Accounting, 6th Edition. Cengage Learning, 02/2012.;VitalBook file.
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