Complete a vertical analysis of the following income statement from Gomez Corporation. Do not use...
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Complete a vertical analysis of the following income statement from Gomez Corporation. • Do not use a negative sign in your answers. • Round to the nearest whole percentage point (for example, enter 60 for 60.4% or 61 for 60.5%). vertical Analysis 2020 2019 income Statement 2020 2019 % of Sales % of Sales Revenues $100,000 $110,000 Cost of goods sold 60,800 68,400 Gross margin 39,200 41,600 Operating expenses 23,100 26,250 Net income $ 16,100 $ 15,350 Complete a horizontal analysis of the following income statement from Gomez Corporation. • Use a negative sign to indicate a decrease. • Round to the nearest whole percentage point (for example, enter 60 for 60.4% or 61 for 60.5%). Horizontal Analysis Dollar Percentage Change Income Statement 2020 2019 Change Revenues $100,000 $110,000 S Cost of goods sold 60,800 68,400 S Gross margin 39,200 41,600 $ Operating expenses 23,100 26,250 S 0 % Net income $ 16,100 $ 15,350 S 0 %6 Complete a vertical analysis of the following income statement from Gomez Corporation. • Do not use a negative sign in your answers. • Round to the nearest whole percentage point (for example, enter 60 for 60.4% or 61 for 60.5%). vertical Analysis 2020 2019 income Statement 2020 2019 % of Sales % of Sales Revenues $100,000 $110,000 Cost of goods sold 60,800 68,400 Gross margin 39,200 41,600 Operating expenses 23,100 26,250 Net income $ 16,100 $ 15,350 Complete a horizontal analysis of the following income statement from Gomez Corporation. • Use a negative sign to indicate a decrease. • Round to the nearest whole percentage point (for example, enter 60 for 60.4% or 61 for 60.5%). Horizontal Analysis Dollar Percentage Change Income Statement 2020 2019 Change Revenues $100,000 $110,000 S Cost of goods sold 60,800 68,400 S Gross margin 39,200 41,600 $ Operating expenses 23,100 26,250 S 0 % Net income $ 16,100 $ 15,350 S 0 %6
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Related Book For
Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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