Gulay ni Marites Vegetables Shop Income Statement For the year ended Dec 31, 2022 Net Sales 739,200.00 100.00% COGS (540,600.00) 73.13% Gross Income 198,600.00 26.87% OPEX (120,000.00) 16.23% Net Income before Tax 78,600.00 10.63% Tax Paid (3% of Sales) (22,176.00) 3.00% Net Income After Tax 56,424.00 7.63% The vertical analysis is correct. A False; error for VA of gross income B False; error for VA of net income after tax True D False; error for VA of net income before tax
Gulay ni Marites Vegetables Shop Income Statement For the year ended Dec 31, 2022 Net Sales 739,200.00 100.00% COGS (540,600.00) 73.13% Gross Income 198,600.00 26.87% OPEX (120,000.00) 16.23% Net Income before Tax 78,600.00 10.63% Tax Paid (3% of Sales) (22,176.00) 3.00% Net Income After Tax 56,424.00 7.63% The vertical analysis is correct. A False; error for VA of gross income B False; error for VA of net income after tax True D False; error for VA of net income before tax
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
31
The vertical analysis is correct.
![Gulay ni Marites Vegetables Shop
Income Statement
For the year ended Dec 31, 2022
Net Sales
739,200.00
100.00%
COGS
(540,600.00)
73.13%
Gross Income
198,600.00
26.87%
ОРЕХ
(120,000.00)
16.23%
Net Income before Tax
78,600.00
10.63%
Tax Paid (3% of Sales)
(22,176.00)
3.00%
Net Income After Tax
56,424.00
7.63%
The vertical analysis is correct.
A False; error for VA of gross income
B False; error for VA of net income after tax
True
D False; error for VA of net income before tax](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F839e368a-3630-40da-8ff7-1accbde311d0%2F5e343353-927a-4973-861a-21867d540713%2Fj2l8qcs_processed.png&w=3840&q=75)
Transcribed Image Text:Gulay ni Marites Vegetables Shop
Income Statement
For the year ended Dec 31, 2022
Net Sales
739,200.00
100.00%
COGS
(540,600.00)
73.13%
Gross Income
198,600.00
26.87%
ОРЕХ
(120,000.00)
16.23%
Net Income before Tax
78,600.00
10.63%
Tax Paid (3% of Sales)
(22,176.00)
3.00%
Net Income After Tax
56,424.00
7.63%
The vertical analysis is correct.
A False; error for VA of gross income
B False; error for VA of net income after tax
True
D False; error for VA of net income before tax
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