Operating data for Flint Corporation are presented below. 2022 2021 Sales revenue $829,000 $648,900 Cost of goods sold 530,600 413,800 Selling expenses 123,300 73,400 Administrative expenses 74,100 52,400 Income tax expense 34,400 26,600 Net income 66,600 82,700 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) FLINT CORPORATION Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $829,000 $648,900 Cost of goods sold 530,600 413,800 Gross profit 298,400 235,100 Selling expenses 123,300 73,400 rch PrtSc Insert F4 F5 F6 F7 F8 F9 F10 F11 F12 Es 24 & ) 4. 5 8 T Y. + II
Operating data for Flint Corporation are presented below. 2022 2021 Sales revenue $829,000 $648,900 Cost of goods sold 530,600 413,800 Selling expenses 123,300 73,400 Administrative expenses 74,100 52,400 Income tax expense 34,400 26,600 Net income 66,600 82,700 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.) FLINT CORPORATION Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $829,000 $648,900 Cost of goods sold 530,600 413,800 Gross profit 298,400 235,100 Selling expenses 123,300 73,400 rch PrtSc Insert F4 F5 F6 F7 F8 F9 F10 F11 F12 Es 24 & ) 4. 5 8 T Y. + II
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Operating data for Flint Corporation are presented below.
2022
2021
Sales revenue
$829,000 $648,900
Cost of goods sold
530,600
413,800
Selling expenses
123,300
73,400
Administrative expenses
74,100
52,400
Income tax expense
34,400
26,600
Net income
66,600
82,700
Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg. 12.1%.)
FLINT CORPORATION
Condensed Income Statement
2022
2021
Amount
Percent
Amount
Percent
Sales
$829,000
$648,900
Cost of goods sold
530,600
413,800
Gross profit
298,400
235,100
Selling expenses
123,300
73,400
rch
PrtSc
Insert
F4
F5
F6
F7
F8
F9
F10
F11
F12
Es
24
&
)
4.
5
8
T
Y.
+ II
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