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Operating data for Blue Spruce Corp. are presented as follows. 2022 2021 Sales revenue $834,000 $623,500 Cost of goods sold 529,590 405,275 Selling expenses 125,100 76,067 Administrative expenses 79,230 51,127 Income tax expense 33,360 24,940 Net income 66,720 66,091 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%)

Operating data for Blue Spruce Corp. are presented as follows. 2022 2021 Sales revenue $834,000 $623,500 Cost of goods sold 529,590 405,275 Selling expenses 125,100 76,067 Administrative expenses 79,230 51,127 Income tax expense 33,360 24,940 Net income 66,720 66,091 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%)

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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Operating data for Blue Spruce Corp. are presented as follows. 2022 2021 Sales revenue $834,000 $623,500 Cost of goods sold 529,590 405,275 Selling expenses 125,100 76,067 Administrative expenses 79,230 51,127 Income tax expense 33,360 24,940 Net income 66,720 66,091 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%) BLUE SPRUCE CCORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $834,000 $623,500 Cost of goods sold 529,590 405,275 Gross profit 304,410 218,225 Selling expenses 125,100 76,067 Administrative expenses 79,230 51.127 96 Administrative expenses 79,230 51,127 Total operating expenses 204,330 127,194 Income before income taxes 100,080 91,031 Income tax expense 33,360 24,940 Net income $66,720 $66,091
Transcribed Image Text:Operating data for Blue Spruce Corp. are presented as follows. 2022 2021 Sales revenue $834,000 $623,500 Cost of goods sold 529,590 405,275 Selling expenses 125,100 76,067 Administrative expenses 79,230 51,127 Income tax expense 33,360 24,940 Net income 66,720 66,091 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%) BLUE SPRUCE CCORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $834,000 $623,500 Cost of goods sold 529,590 405,275 Gross profit 304,410 218,225 Selling expenses 125,100 76,067 Administrative expenses 79,230 51.127 96 Administrative expenses 79,230 51,127 Total operating expenses 204,330 127,194 Income before income taxes 100,080 91,031 Income tax expense 33,360 24,940 Net income $66,720 $66,091
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