Revenue and expense data for Bluestem Company are as follows:

Prepare a comparative income statement, with vertical analysis, stating each item for both years as a percent of sales. Round percentages to one decimal place.

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Administrative expenses Cost of goods sold Income tax Sales Selling expenses Year 2 $ 37,000 350,000 40,000 800,000 150,000 Year 1 $ 20,000 320,000 32,000 700,000 110,000 Administrative expenses Cost of goods sold Income tax Sales Selling expenses Year 2 $ 37,000 350,000 40,000 800,000 150,000 Year 1 $ 20,000 320,000 32,000 700,000 110,000

Answer rating: 100% (QA)

Comparative income statement Year 2 Year 1 Increase or Decrease Year 2Year 1 of changes Particulars ... View the full answer