Operating data for Blue Spruce Corp. are presented below. 2020 2019 Sales revenue $850,000 $640,000 Cost...

 

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Operating data for Blue Spruce Corp. are presented below. 2020 2019 Sales revenue $850,000 $640,000 Cost of goods sold 595,000 433,920 Selling expenses 131,750 73,600 Administrative expenses 65,450 52,480 Income tax expense 30,600 27,520 Net income 27,200 52,480 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 decimal place, e.g. 12.1%.) BLUE SPRUCE CORP. Condensed Income Statement 2020 2019 Amount Percent Amount Percent Sales $850,000 % $640,000 % Cost of goods sold 595,000 % 433,920 Gross profit 255,000 % 206,080 % Selling expenses 131,750 % 73,600 % Administrative expenses 65,450 % 52,480 % Total operating expensen 197,200 % 126,080 Income before income taxes 57,800 % 80,000 % Income tax expense 30,600 27,520 % Net income $ 27,200 % $ 52,480 Operating data for Blue Spruce Corp. are presented below. 2020 2019 Sales revenue $850,000 $640,000 Cost of goods sold 595,000 433,920 Selling expenses 131,750 73,600 Administrative expenses 65,450 52,480 Income tax expense 30,600 27,520 Net income 27,200 52,480 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round percentages to 1 decimal place, e.g. 12.1%.) BLUE SPRUCE CORP. Condensed Income Statement 2020 2019 Amount Percent Amount Percent Sales $850,000 % $640,000 % Cost of goods sold 595,000 % 433,920 Gross profit 255,000 % 206,080 % Selling expenses 131,750 % 73,600 % Administrative expenses 65,450 % 52,480 % Total operating expensen 197,200 % 126,080 Income before income taxes 57,800 % 80,000 % Income tax expense 30,600 27,520 % Net income $ 27,200 % $ 52,480

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BLUE SPRUCE CORP Condensed Income Statement For the Years Ended December 31 2020 2019 Amount Pe... View the full answer