Operating data for Blue Spruce Corp. are presented below.Sales revenueCost of goods soldSelling expensesAdministrative expensesIncome tax expenseNet income2022$822,500528,300124,00074,70038,70056,8002021$643,500414,60079,00053,00027,90069,000Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) SalesCost of goods soldGross profitSelling expensesAdministrative expensesTotal operating expensesIncome before income taxesIncome tax expenseNet incomeAmount$822,500528,300294,200124,00074,700198,70095,50038,700$56,800BLUE SPRUCE CORP.Condensed Income Statement2022Percent%%%%%%%%%Amount$643,500414.600228,90079,00053,000132,00096,90027,900$69,0002021Percent%%%%%%%%%

Income statement is one of the financial statements that shows profitability, total revenue and…

Operating data for Blue Spruce Corp. are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $822,500 528,300 124,000 74,700 38,700 56,800 2021 $643,500 414,600 79,000 53,000 27,900 69,000 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)

Operating data for Blue Spruce Corp. are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $822,500 528,300 124,000 74,700 38,700 56,800 2021 $643,500 414,600 79,000 53,000 27,900 69,000 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)

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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