Question: Prepare a vertical analysis for both years, using the following chart. 2021 2020 2021 Percent 2020 Percent Net sales $600,000 $500,000 Cost of goods sold
- Prepare a vertical analysis for both years, using the following chart.
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2021 |
2020 | 2021 Percent | 2020 Percent |
| Net sales | $600,000 | $500,000 |
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| Cost of goods sold | 483,000 | 420,000 |
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| Gross profit | 117,000 | 80,000 |
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| Operating expenses | 57,200 | 44,000 |
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| Net income | $59,800 | $36,000 |
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