Minnie Co. does business in three segments: Theme Parks, Movie Production, and Merchandise. The following information from the current year is available:Current YearPrior YearSegment(in thousands)(in thousands)Theme Parks$ 776,000$664,000Movie Production824,000596,000Merchandise495,000325,000Total revenues$2,095,000$1,585,000Prepare a vertical analysis of the segment data. Calculate the percentage to four decimal places, then round your answer to two decimal places. Do not enter the percentsign.Note: Due to rounding the total percentages may not equal 100%.Minnie Co.Vertical AnalysisSegmentCurrent Year Amount (in thousands) Current Year PercentPrior Year Amount (in thousands) Prior Year PercentTheme Parks$776,000$664,000Movie Production824,000596,000Merchandise495,000325,000Total revenues$2,095,000$1,585,000

Vertical analysis: The comparison of an item of a financial statement against the total amount of…

Answered: Minnie Co. does business in three…

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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Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous YearSales $4,000,000 $3,600,000Cost of goods sold 2,280,000 1,872,000Selling expenses 600,000 648,000Administrative expenses 520,000 360,000Income tax expense 240,000 216,000a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round to the nearest whole percentage.b. Comment on the significant changes disclosed by the comparative income statement.
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