(a) Using vertical analysis, calculate the percentage of the base amount for each year. (Round answers...
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(a) Using vertical analysis, calculate the percentage of the base amount for each year. (Round answers to 1 decimal place, e.g. 15.2%.) VERMILLION CORPORATION Vertical Analysis of Statement of Income 2021 2020 Amount Percent Amount Percent Sales $804.000 $596,000 % Cost of goods sold 552,348 374.288 % Gross profit 251,652 221,712 % Operating expenses 155,976 122,776 Income before income tax 95.676 98.936 Income tax expense 12,864 22,052 % Net income $82,812 $76,884 % (a) Using vertical analysis, calculate the percentage of the base amount for each year. (Round answers to 1 decimal place, e.g. 15.2%.) VERMILLION CORPORATION Vertical Analysis of Statement of Income 2021 2020 Amount Percent Amount Percent Sales $804.000 $596,000 % Cost of goods sold 552,348 374.288 % Gross profit 251,652 221,712 % Operating expenses 155,976 122,776 Income before income tax 95.676 98.936 Income tax expense 12,864 22,052 % Net income $82,812 $76,884 %
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2021 2020 sales 804000804000100 1000 596000596000100 100 cost of good... View the full answer
Related Book For
Fundamentals of Analytical Chemistry
ISBN: 978-0495558286
9th edition
Authors: Douglas A. Skoog,Donald M. West, F. James Holler, Stanley R. Crouch
Posted Date:
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