Question: Operating data for Bridgeport Corp. are presented below. 2022 2021 Sales revenue $826,200 $641,300 Cost of goods sold 523,300 414,500 Selling expenses 121,800 78,500 Administrative

Operating data for Bridgeport Corp. are presented below.

2022

2021

Sales revenue

$826,200 $641,300

Cost of goods sold

523,300 414,500

Selling expenses

121,800 78,500

Administrative expenses

77,100 51,300

Income tax expense

36,600 25,700

Net income

67,400 71,300

Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)

BRIDGEPORT CORP. Condensed Income Statement choose the accouning periodFor the Month Ended December 31For the Years Ended December 31December 31 For the Years Ended December 31December 31For the Month Ended December 31

2022

2021

Amount

Percent

Amount

Percent

Sales

$826,200

enter percentages

%

$641,300

enter percentages

%

Cost of goods sold

523,300

enter percentages

%

414,500

enter percentages

%

Gross profit

302,900

enter percentages

%

226,800

enter percentages

%

Selling expenses

121,800

enter percentages

%

78,500

enter percentages

%

Administrative expenses

77,100

enter percentages

%

51,300

enter percentages

%

Total operating expenses

198,900

enter percentages

%

129,800

enter percentages

%

Income before income taxes

104,000

enter percentages

%

97,000

enter percentages

%

Income tax expense

36,600

enter percentages

%

25,700

enter percentages

%

Net income

$ 67,400

enter percentages

%

$ 71,300

enter percentages

%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!