Selected data (in thousands) from the statement of income of Foress Inc. are shown below. Using...

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Selected data (in thousands) from the statement of income of Foress Inc. are shown below. Using vertical analysis, calculate the percentage of the base amount for each year. (Round answers to 1 decimal place, e.g. 5.2%.) 2024 Amount Percentage Sales $1,912 Cost of goods sold 1,609 Gross profit 303 Operating expenses 220 Income before income tax 83 2023 Amount Percentage % do % $2,075 % do do % 1,671 % % 404 do % % 209 do % do % 195 % do % 17 39 Income tax expense Net income $66 do % $156 de % Selected data (in thousands) from the statement of income of Foress Inc. are shown below. Using vertical analysis, calculate the percentage of the base amount for each year. (Round answers to 1 decimal place, e.g. 5.2%.) 2024 Amount Percentage Sales $1,912 Cost of goods sold 1,609 Gross profit 303 Operating expenses 220 Income before income tax 83 2023 Amount Percentage % do % $2,075 % do do % 1,671 % % 404 do % % 209 do % do % 195 % do % 17 39 Income tax expense Net income $66 do % $156 de %

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Answer To calculate the percentage of the base amount for each year using vertical analysis we need ... View the full answer