Condensed data from the income statement for Fleetwood Corporation follow: Instructions Prepare a vertical analysis for each
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Instructions
Prepare a vertical analysis for each year.
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Net sales Cost of goods sold Gross profit Operating expenses Profit before income tax Income tax expense Profit 2012 $800,000 550,000 250,000 175,000 75,000 2011 $600,000 75,000 225,000 125,000 100,000 20,000 $ 80,000 15 60,000
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118024492
5th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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