The following is summary of information presented on financial performance of Delta Company on December 31, 2021.

Accounts	2021
Net Sales	$7,000
Cost of Goods Sold	$3,800
Selling Expenses	$950
Administrative expenses	$670
Interest Revenue	0
Interest Expense	$750
Income Tax Expense	$150

As a Financial Analyst, you are asked to prepare the income statement and analyze vertically the statement of the company in 2021.

Answer rating: 100% (QA)

Income Statement Formula Net Sales 7000 100 Cost of goods sold 3800 54 Gross P... View the full answer