19991998Net Sales3,375,0002,700,000COGS2,092,5001,755,000Selling Expenses540,000324,000Administrative Expenses270,000243,000Interest Expense148,500108,000Net Income324,000270,000Make the vertical analysis for 1999 and 1998.show your solution as a guide.

Income statement represents the net income or net loss that includes the revenues and expenses.

Answered: 1999 1998 Net Sales 3,375,000 2,700,000…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1999 1998 Net Sales 3,375,000 2,700,000 COGS 2,092,500 1,755,000 Selling Expenses 540,000 324,000 Administrative Expenses 270,000 243,000 Interest Expense 148,500 108,000 Net Income 324,000 270,000