Cochran corporation, Inc. has the following income statement: Cochran corporation, Inc. Income statement For the year ended December 31, 2021 net sales $240 Cost of goods sold $150 gross profit $90 Operating expenses $65 Net income $25 Using vertical analysis, what percentage is assigned to operating expenses? a. 27,1% b. 43.3% c. 72.2% d. 260.0%

Cochran corporation, Inc. has the following income statement: Cochran corporation, Inc. Income statement For the year ended December 31, 2021 net sales $240 Cost of goods sold $150 gross profit $90 Operating expenses $65 Net income $25 Using vertical analysis, what percentage is assigned to operating expenses? a. 27,1% b. 43.3% c. 72.2% d. 260.0%

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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