Operating data for Ivanhoe Corporation are presented as follows. 2027 2026 Net sales $826,200 $641,300 Cost...
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Operating data for Ivanhoe Corporation are presented as follows. 2027 2026 Net sales $826,200 $641,300 Cost of goods sold 520,506 410,432 Selling expenses 119,799 76,956 Administrative expenses 74,358 51,304 Income tax expense 37,179 25,652 Net income 74,358 76,956 Prepare a schedule showing a vertical analysis for 2027 and 2026. (Round percentages to 1 decimal place, e.g. 12.1%.) IVANHOE CORPORATION Condensed Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income 2027 Amount $ 2026 Percent Amount Percent % $ % % % % % % % % % % % % % % % $ % $ % Operating data for Ivanhoe Corporation are presented as follows. 2027 2026 Net sales $826,200 $641,300 Cost of goods sold 520,506 410,432 Selling expenses 119,799 76,956 Administrative expenses 74,358 51,304 Income tax expense 37,179 25,652 Net income 74,358 76,956 Prepare a schedule showing a vertical analysis for 2027 and 2026. (Round percentages to 1 decimal place, e.g. 12.1%.) IVANHOE CORPORATION Condensed Income Statements For the Years Ended December 31 Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income 2027 Amount $ 2026 Percent Amount Percent % $ % % % % % % % % % % % % % % % $ % $ %
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