Willrick Corporation's controller has prepared the following vertical analysis for the president. Required Sales were $600,000 in

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Willrick Corporation's controller has prepared the following vertical analysis for the president.

2012 2011 Sales 100.0% 100.0% Cost of goods sold Gross margin Selling and administrative expense Interest expense 57.0 5

Required
Sales were $600,000 in 2011 and $750,000 in 2012. Convert the analysis to income statements for the two years.

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Fundamental Managerial Accounting Concepts

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Authors: Edmonds, Tsay, olds

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Question Posted: Dec 07, 2011 06:51 AM

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Willrick Corporation's controller has prepared the following vertical analysis for the president. Required Sales were $600,000 in

Question:

2012 2011 Sales 100.0% 100.0% Cost of goods sold Gross margin Selling and administrative expense Interest expense 57.0 54.0 43.0 46.0 18.0 20.0 2.8 4.0 Total expenses 24.0 20.8 Income before taxes 22.2 22.0 Income tax expense 10.0 8.0 Net income 14.0% 12.2%

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Willrick Corporation Income Statements For the Years Ended December 31 ...View the full answer

Fundamental Managerial Accounting Concepts

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