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Operating data for Panola Land Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2026 $800,000 480,000 120,000 80,000 24,000 96,000 2025 $600,000 390,000 78,000 54,000 25,000 53,000 Prepare a schedule showing a vertical analysis for 2026 and 2025. (Round percentage answers to 1 decimal place, e.g. 15.2%)

Operating data for Panola Land Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2026 $800,000 480,000 120,000 80,000 24,000 96,000 2025 $600,000 390,000 78,000 54,000 25,000 53,000 Prepare a schedule showing a vertical analysis for 2026 and 2025. (Round percentage answers to 1 decimal place, e.g. 15.2%)

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 Panola Land Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2026 $800,000 480,000 120,000 80,000 24,000 96,000 2025 $600,000 390,000 78,000 54,000 25,000 53,000 Prepare a schedule showing a vertical analysis for 2026 and 2025. (Round percentage answers to 1 decimal place, e.g. 15.2%.)
Transcribed Image Text:Operating data for Panola Land Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2026 $800,000 480,000 120,000 80,000 24,000 96,000 2025 $600,000 390,000 78,000 54,000 25,000 53,000 Prepare a schedule showing a vertical analysis for 2026 and 2025. (Round percentage answers to 1 decimal place, e.g. 15.2%.)
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