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Gulay ni Marites Vegetables Shop Income Statement For the year ended Dec 31, 2022 Net Sales 970,400.00 100.00% COGS (540,600.00) 55.71% Gross Income 429,800.00 46.29% OPEX (120,000.00) 12.37% Net Income before Tax 309,800.00 31.92% Tax Paid (3% of Sales) (29,112.00) 3.00% Net Income After Tax 280,688.00 28.92% The vertical analysis is correct. A False; error for VA of net income before tax B False; error for VA of net income after tax True D False; error for VA of gross income

Gulay ni Marites Vegetables Shop Income Statement For the year ended Dec 31, 2022 Net Sales 970,400.00 100.00% COGS (540,600.00) 55.71% Gross Income 429,800.00 46.29% OPEX (120,000.00) 12.37% Net Income before Tax 309,800.00 31.92% Tax Paid (3% of Sales) (29,112.00) 3.00% Net Income After Tax 280,688.00 28.92% The vertical analysis is correct. A False; error for VA of net income before tax B False; error for VA of net income after tax True D False; error for VA of gross income

FINANCIAL ACCOUNTING
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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The vertical analysis is correct.

Gulay ni Marites Vegetables Shop Income Statement For the year ended Dec 31, 2022 Net Sales 970,400.00 100.00% COGS (540,600.00) 55.71% Gross Income 429,800.00 46.29% ОРЕХ (120,000.00) 12.37% Net Income before Tax 309,800.00 31.92% Tax Paid (3% of Sales) (29,112.00) 3.00% Net Income After Tax 280,688.00 28.92% The vertical analysis is correct. A False; error for VA of net income before tax B False; error for VA of net income after tax c True D False; error for VA of gross income
Transcribed Image Text:Gulay ni Marites Vegetables Shop Income Statement For the year ended Dec 31, 2022 Net Sales 970,400.00 100.00% COGS (540,600.00) 55.71% Gross Income 429,800.00 46.29% ОРЕХ (120,000.00) 12.37% Net Income before Tax 309,800.00 31.92% Tax Paid (3% of Sales) (29,112.00) 3.00% Net Income After Tax 280,688.00 28.92% The vertical analysis is correct. A False; error for VA of net income before tax B False; error for VA of net income after tax c True D False; error for VA of gross income
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