The Verifine Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's...
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The Verifine Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) - Read the requirements. Requirement 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. Begin by preparing a vertical analysis for Verifine for its income statement. (Round the percent of total amounts to one decimal place, X.X Verifine Department Stores, Inc. Income Statement Year Ended December 31, 2024 Data table Requirements 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. 2. Compare the company's profit performance and financial position with the average for the industry. Data table - Amount Percent of Total Verifine Department Stores, Inc. Net Sales Revenue $ 780,000 % 528,060 Cost of Goods Sold % Income Statement Compared with Industry Average Year Ended December 31, 2024 Verifine Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 Industry Gross Profit 251,940 % Verifine Average 159,120 Operating Expenses % Verifine Industry Average Current Assets $ 297,000 70.9% Operating Income 92,820 % Net Sales Revenue $ 780,000 100.0 % Property, Plant, and Equipment, Net 112,640 23.6 7,020 Other Expenses % $ 85,800 Net Income % Cost of Goods Sold Gross Profit 528,060 65.8 Intangible Assets, Net 7,920 0.8 22,440 4.7 251,940 34.2 Other Assets $ Prepare a vertical analysis for Verifine for its balance sheet. (Round the percer Verifine Department Stores, Inc. Balance Sheet December 31, 2024 159,120 19.7 440,000 100.0 % Operating Expenses Operating Income Total Assets 92,820 14.5 Other Expenses 7,020 0.4 Current Liabilities $ 202,400 48.1% $ 85,800 14.1% Long-term Liabilities 98,560 16.6 Net Income Amount Percent of Total Liabilities 300,960 64.7 139,040 35.3 Stockholders' Equity $ 440,000 100.0% Print Done Total Liabilities and Stockholders' Equity The Verifine Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) - Read the requirements. Requirement 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. Begin by preparing a vertical analysis for Verifine for its income statement. (Round the percent of total amounts to one decimal place, X.X Verifine Department Stores, Inc. Income Statement Year Ended December 31, 2024 Data table Requirements 1. Prepare a vertical analysis for Verifine for both its income statement and balance sheet. 2. Compare the company's profit performance and financial position with the average for the industry. Data table - Amount Percent of Total Verifine Department Stores, Inc. Net Sales Revenue $ 780,000 % 528,060 Cost of Goods Sold % Income Statement Compared with Industry Average Year Ended December 31, 2024 Verifine Department Stores, Inc. Balance Sheet Compared with Industry Average December 31, 2024 Industry Gross Profit 251,940 % Verifine Average 159,120 Operating Expenses % Verifine Industry Average Current Assets $ 297,000 70.9% Operating Income 92,820 % Net Sales Revenue $ 780,000 100.0 % Property, Plant, and Equipment, Net 112,640 23.6 7,020 Other Expenses % $ 85,800 Net Income % Cost of Goods Sold Gross Profit 528,060 65.8 Intangible Assets, Net 7,920 0.8 22,440 4.7 251,940 34.2 Other Assets $ Prepare a vertical analysis for Verifine for its balance sheet. (Round the percer Verifine Department Stores, Inc. Balance Sheet December 31, 2024 159,120 19.7 440,000 100.0 % Operating Expenses Operating Income Total Assets 92,820 14.5 Other Expenses 7,020 0.4 Current Liabilities $ 202,400 48.1% $ 85,800 14.1% Long-term Liabilities 98,560 16.6 Net Income Amount Percent of Total Liabilities 300,960 64.7 139,040 35.3 Stockholders' Equity $ 440,000 100.0% Print Done Total Liabilities and Stockholders' Equity
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