Operating data for Navarro Corporation are presented below: 20172016Net sales$750,000$600,000Cost of goods sold465,000390,000Selling expenses105,00066,000Administrative expenses 60,00054,000Income tax expense36,00027,000Net income84,00063,000Instructions:Prepare a schedule showing a vertical analysis for 2017 and 2016?

NAVARRO CORPORATION Income Statements Particulars 2017 Amount percentage Net Sales 750,000…

Answered: Prepare a schedule showing a vertical…

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 Navarro Corporation are presented below:

	2017	2016
Net sales	$750,000	$600,000
Cost of goods sold	465,000	390,000
Selling expenses	105,000	66,000
Administrative expenses	60,000	54,000
Income tax expense	36,000	27,000
Net income	84,000	63,000

Instructions:

Prepare a schedule showing a vertical analysis for 2017 and 2016?

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