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Income statement for XYZ business for the period ending 31st of December 2010 $ 94,600 INCOME Services rendered 94,600 EXPENSES Salaries Telephone & internet Water & electricity Property rates and taxes Insurance (63,780) 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 654 Advertising costs Fuel Stationery Bank charges / interest paid Tax expense 3,414 NET PROFIT 30,820

Income statement for XYZ business for the period ending 31st of December 2010 $ 94,600 INCOME Services rendered 94,600 EXPENSES Salaries Telephone & internet Water & electricity Property rates and taxes Insurance (63,780) 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 654 Advertising costs Fuel Stationery Bank charges / interest paid Tax expense 3,414 NET PROFIT 30,820

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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Can u please give the vertical analysis for this and interpret the results.

Income statement for XYZ business for the period ending 31st of December 2010 $ INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Telephone & internet Water & electricity Property rates and taxes Insurance Advertising costs Fuel Stationery Bank charges / interest paid Тах еxpense 654 3,414 NET PROFIT 30,820
Transcribed Image Text:Income statement for XYZ business for the period ending 31st of December 2010 $ INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Telephone & internet Water & electricity Property rates and taxes Insurance Advertising costs Fuel Stationery Bank charges / interest paid Тах еxpense 654 3,414 NET PROFIT 30,820
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