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Income statement information for Einsworth Corporation follows: Sales $280,000 Cost of goods sold 86,800 Gross profit 193,200 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $280,000 100 v % Cost of goods sold 86,800 Gross profit $193,200 X %

Income statement information for Einsworth Corporation follows: Sales $280,000 Cost of goods sold 86,800 Gross profit 193,200 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $280,000 100 v % Cost of goods sold 86,800 Gross profit $193,200 X %

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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I am so confused. I did the vertical analysis. I divided the cost of goods sold by the sales and still says I'm incorrect. Even when I try to compute the profit percentage it still says wrong.

Income statement information for Einsworth Corporation follows: Sales $280,000 Cost of goods sold 86,800 Gross profit 193,200 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $280,000 100 V % Cost of goods sold 86,800 Gross profit $193,200 X %
Transcribed Image Text:Income statement information for Einsworth Corporation follows: Sales $280,000 Cost of goods sold 86,800 Gross profit 193,200 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $280,000 100 V % Cost of goods sold 86,800 Gross profit $193,200 X %
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The vertical analysis is a part of the comparative analysis. This analysis helps to analyze the performance of the business entity.

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