Comparative income statements are available for Johanna's Fine Furs 2010 2009 P 850,000 325,000 525,000 175,000 350,000 105,000 P 245,000 P 800,000 275,000 525,000 120,000 405,000 121,500 P 283,500 Sales Cost of Sales Gross Profit Operating Expenses Operating Profit Income tax Expense Net Income Required: Perform horizontal and vertical analyses on each of the items in the above comparative income statements. Round percentages to one decimal point only. (ex. 10.1%)

Comparative income statements are available for Johanna's Fine Furs 2010 2009 P 850,000 325,000 525,000 175,000 350,000 105,000 P 245,000 P 800,000 275,000 525,000 120,000 405,000 121,500 P 283,500 Sales Cost of Sales Gross Profit Operating Expenses Operating Profit Income tax Expense Net Income Required: Perform horizontal and vertical analyses on each of the items in the above comparative income statements. Round percentages to one decimal point only. (ex. 10.1%)

Name: Comparative income statements are available for Johanna's Fine Furs20
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Description: Comparative income statements are available for Johanna's Fine Furs2010P 850,000325,000525,000175,000350,000105,000P 245,0002009P 800,000275,000525,000120,000405,000121,500P 283,500SalesCost of SalesGross ProfitOperating ExpensesOperating ProfitInco

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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