I don't understand how to get the percentage for the Sales to start off.... Income statement information for Einsworth Corporation follows: Sales $596,000 Cost of goods sold 149,000 Gross profit 447,000 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth CorporationVertical Analysis of the Income Statement Amount Percentage Sales $596,000 fill in the blank 1% Cost of goods sold 149,000 fill in the blank 2 Gross profit $447,000 fill in the blank 3%
I don't understand how to get the percentage for the Sales to start off.... Income statement information for Einsworth Corporation follows: Sales $596,000 Cost of goods sold 149,000 Gross profit 447,000 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth CorporationVertical Analysis of the Income Statement Amount Percentage Sales $596,000 fill in the blank 1% Cost of goods sold 149,000 fill in the blank 2 Gross profit $447,000 fill in the blank 3%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I don't understand how to get the percentage for the Sales to start off....
Income statement information for Einsworth Corporation follows:
| Sales | $596,000 | |
| Cost of goods sold | 149,000 | |
| Gross profit | 447,000 |
Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number.
Einsworth CorporationVertical Analysis of the Income Statement
| Amount | Percentage | |
| Sales | $596,000 | fill in the blank 1% |
| Cost of goods sold | 149,000 | fill in the blank 2 |
| Gross profit | $447,000 | fill in the blank 3% |
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