Foreman Company provided income statements for the past five years. In looking at the percentage…

Foreman Company provided income statements for the past five years. In looking at the percentage columns for each year, you notice that sales are 46 percent higher in Year 5 than in Year

1. Foreman has most likely provided

a. a horizontal analysis using year 1 as the base year.

b. a vertical analysis using sales as the base.

c. a horizontal analysis using the prior period as the base year.

d. a vertical analysis using net income as the base.

e. none of the above.

 

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