Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income Net sales Cost of goods sold Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%.) BRAMBLE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Gross profit 2022 $754,000 465,218 122,148 61,828 33,176 71,630 Selling expenses Amount $754,000 465,218 288,782 2021 122 148 $605,000 392,645 69,575 54,450 21,780 66,550 Percent 100 % 65 % % % Amount $605,000 392,645 212,355.0 69 575 2021 Percent 100 % 1 % %

Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income Net sales Cost of goods sold Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%.) BRAMBLE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Gross profit 2022 $754,000 465,218 122,148 61,828 33,176 71,630 Selling expenses Amount $754,000 465,218 288,782 2021 122 148 $605,000 392,645 69,575 54,450 21,780 66,550 Percent 100 % 65 % % % Amount $605,000 392,645 212,355.0 69 575 2021 Percent 100 % 1 % %

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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