Page 1 1 N 2 3 4 5 6 Question 17 (1 point) A vertical analysis is being conducted for TTG Ltd TTG Ltd Income Statement Year Ended December 31 2020 2021 2022 a 7 8 Revenue $ 732,000 $ 782,000 $ 832,000 9 Cost of goods sold 439,200 461,380 482,560 Gross profit 292,800 320,620 349,440 Selling expenses 109,800 109,480 124,800 5 10 11 2 12 Operating expenses 36,600 46,920 41,600 Operating income 146,400 164,220 183,040 Income tax expense 51,240 57,477 64,064 13 14 15 Net income 95,160 106,743 118,976 1 16 17 18 1 410 Based on the above comparative income statement, what percentage will 2022 operating income be shown as (Round to the nearest percent ) 14 19 20 21 21 100 22 114

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Question: Page 1: 1 N 2 3 4 5 6 Question 17 (1 point) A vertical analysis is being conducted for TTG Ltd. TTG Ltd.

Page 1: 1 N 2 3 4 5 6 Question 17 (1 point) A vertical analysis is being conducted for TTG Ltd. TTG Ltd. Income Statement Year Ended December 31 2020 2021 2022 a > 7 8 > > Revenue $ 732,000 $ 782,000 $ 832,000 9 Cost of goods sold 439,200 461,380 482,560 Gross profit 292,800 320,620 349,440 Selling expenses 109,800 109,480 124,800 => 12 Operating expenses 36,600 46,920 41,600 Operating income 146,400 164,220 183,040 Income tax expense 51,240 57,477 64,064 13 14 15 Net income 95,160 106,743 118,976 1 16 17 18 1 410 Based on the above comparative income statement, what percentage will 2022 operating income be shown as? (Round to the nearest percent.) 14% 19 20 21 21 100% 22% 114%

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