03 aces Game-On Sports operates in two distinct segments: athletic equipment and accessories. The income statement for each operating segment is presented below. Required: 1. Complete the "%" columns to be used in a vertical analysis of Game-On Sports' two operating segments. Express each amount as a percentage of sales. 2. Use vertical analysis to compare the profitability of the two operating segments. Which segment is more profitable? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the "%" columns to be used in a vertical analysis of Game-On Sports' two operating segments. Express each amount as a percentage of sales. (Round your answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income GAME-ON SPORTS Income Statements For the Year Ended December 31, 2024 Athletic Equipment Amount $ 3,125,000 1,380,000 1,745,000 780,000 965,000 81,500 1,046,500 238,000 S 808,500 % Accessories Amount $ 3,575,000 1,685,000 1,800,000 830,000 1,060,000 (16,500) 1,043,500 $ 213,000 830,500 %
03 aces Game-On Sports operates in two distinct segments: athletic equipment and accessories. The income statement for each operating segment is presented below. Required: 1. Complete the "%" columns to be used in a vertical analysis of Game-On Sports' two operating segments. Express each amount as a percentage of sales. 2. Use vertical analysis to compare the profitability of the two operating segments. Which segment is more profitable? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the "%" columns to be used in a vertical analysis of Game-On Sports' two operating segments. Express each amount as a percentage of sales. (Round your answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income GAME-ON SPORTS Income Statements For the Year Ended December 31, 2024 Athletic Equipment Amount $ 3,125,000 1,380,000 1,745,000 780,000 965,000 81,500 1,046,500 238,000 S 808,500 % Accessories Amount $ 3,575,000 1,685,000 1,800,000 830,000 1,060,000 (16,500) 1,043,500 $ 213,000 830,500 %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:03
ces
Game-On Sports operates in two distinct segments: athletic equipment and accessories. The income statement for each operating
segment is presented below.
Required:
1. Complete the "%" columns to be used in a vertical analysis of Game-On Sports' two operating segments. Express each amount as a
percentage of sales.
2. Use vertical analysis to compare the profitability of the two operating segments. Which segment is more profitable?
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Complete the "%" columns to be used in a vertical analysis of Game-On Sports' two operating segments. Express each
amount as a percentage of sales. (Round your answers to 1 decimal place.)
Net sales
Cost of goods sold
Gross profit
Operating expenses
Operating income
Other income (expense)
Income before tax
Income tax expense
Net income
GAME-ON SPORTS
Income Statements
For the Year Ended December 31, 2024
Athletic Equipment
Amount
$ 3,125,000
1,380,000
1,745,000
S
780,000
965,000
81,500
1,046,500
238,000
808,500
%
Accessories
Amount
$ 3,575,000
1,685,000
1,890,000
830,000
1,060,000
(16,500)
1,043,500
213,000
830,500
$
%
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