Perform a vertical analysis of the P&L (FS Company)."Formula: Vertical Analysis % Each income statement items / Revenues (or Net sales)Fill in each Blank. Round your answers to the nearest tenth percent, i.e. 4.5%. PLEASE SUBMITYOUR ANSWERS IN % and include the % symbol. Do not leave any blank. If the answer is 0, besure to put 0.Cost ofgoods soldGrossprofitNet sales $858,000 Select]OtherexpensesInterestrevenueIncomefromoperationsInterestexpense2018IncomebeforeincometaxesIncometaxexpenseNetincome513,000345,000244,000101,0004,00024,00081,00033,000FS CompanyComparative P&L statementYears Ended December 31, 2018 and 201748,000% of salesSelect J[Select]| Select |[Select][Select][Select][ Select]Select]Select<2017$803,000✓ 509,000✓294,000✓ 237,000<✓ 57,000114,000✓43,000✓ 17,000✓26,000% of sales[Select][ Select][Select]| Select]| Select][ Select]| Select]| Select][Select][Select]<<VV><>>>

Vertical analysis of a Profit and Loss (P&L) account is a financial analysis approach that…

Perform a vertical analysis of the P&L (FS Company). "Formula: Vertical Analysis % Each income statement items / Revenues (or Net sales) Fill in each Blank. Round your answers to the nearest tenth percent, i.e. 4.5%. PLEASE SUBMIT YOUR ANSWERS IN % and include the % symbol. Do not leave any blank. If the answer is 0, be sure to put 0. Cost of goods sold Gross profit Net sales $858,000 Select] [ Other expenses Interest revenue Income from operations Interest expense Income before income. taxes 2018 Income tax expense Net Income 513,000 345,000 244,000 101,000 4,000 24,000 81,000 33,000 FS Company Comparative P&L statement Years Ended December 31, 2018 and 2017 48,000 % of sales | Select) [Select] | Select] [Select] [Select] [Select] [Select] [Select] Select < 2017 ✓ 509,000 $803,000 ✓294,000 ✓237,000 V ✓57,000 < *** 14,000 ✓43,000 ✓ 17,000 ✓26,000 % of sales [Select] [ Select] | Select | | Select] | Select] | Select] [Select] | Select [Select] Select] < < < V V < > >

Perform a vertical analysis of the P&L (FS Company). "Formula: Vertical Analysis % Each income statement items / Revenues (or Net sales) Fill in each Blank. Round your answers to the nearest tenth percent, i.e. 4.5%. PLEASE SUBMIT YOUR ANSWERS IN % and include the % symbol. Do not leave any blank. If the answer is 0, be sure to put 0. Cost of goods sold Gross profit Net sales $858,000 Select] [ Other expenses Interest revenue Income from operations Interest expense Income before income. taxes 2018 Income tax expense Net Income 513,000 345,000 244,000 101,000 4,000 24,000 81,000 33,000 FS Company Comparative P&L statement Years Ended December 31, 2018 and 2017 48,000 % of sales | Select) [Select] | Select] [Select] [Select] [Select] [Select] [Select] Select < 2017 ✓ 509,000 $803,000 ✓294,000 ✓237,000 V ✓57,000 < *** 14,000 ✓43,000 ✓ 17,000 ✓26,000 % of sales [Select] [ Select] | Select | | Select] | Select] | Select] [Select] | Select [Select] Select] < < < V V < > >

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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