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Prepare a schedule showing a vertical analysis for 2022 and 20 SWIFTY CORPORATION Condensed Income Statement 2021 2022 Amount Percent Amount Percent $830,700 $634.900 Sales Cost of goods sold 531.648 412,685 Gross profit 299.052 222,215 Selling expenses 124.605 76,188 Administrative experses 74.763 50,792 Total operating expenses 199.368 126,980

Prepare a schedule showing a vertical analysis for 2022 and 20 SWIFTY CORPORATION Condensed Income Statement 2021 2022 Amount Percent Amount Percent $830,700 $634.900 Sales Cost of goods sold 531.648 412,685 Gross profit 299.052 222,215 Selling expenses 124.605 76,188 Administrative experses 74.763 50,792 Total operating expenses 199.368 126,980

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 Swifty Corporation are presented as follows. 2022 2021 $830,700 $634,900 Sales revenue 531,648 412,685 Cost of goods sold 124,605 76,188 Selling expenses Administrative expenses 74,763 50,792 33,228 25,396 Income tax expense 66,456 69,839 Net income Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg 12.1%) SWIFTY CORPORATION Condensed Income Statement 2021 2022 Amount Percent Amount Percent Sales $830,700 $634.900 Cost of goods sold 531.648 412,685 Gross profit 299.052 222.215 Selling expenses 124.605 76,188 Administrative expenses 74,763 50,792 Total operating expenses 199,368 126,980 Income before income taxes 99,684 95 235 Income tax expense 33,228 25,396 Net income $ 66,456 $ 69 839
Transcribed Image Text:Operating data for Swifty Corporation are presented as follows. 2022 2021 $830,700 $634,900 Sales revenue 531,648 412,685 Cost of goods sold 124,605 76,188 Selling expenses Administrative expenses 74,763 50,792 33,228 25,396 Income tax expense 66,456 69,839 Net income Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, eg 12.1%) SWIFTY CORPORATION Condensed Income Statement 2021 2022 Amount Percent Amount Percent Sales $830,700 $634.900 Cost of goods sold 531.648 412,685 Gross profit 299.052 222.215 Selling expenses 124.605 76,188 Administrative expenses 74,763 50,792 Total operating expenses 199,368 126,980 Income before income taxes 99,684 95 235 Income tax expense 33,228 25,396 Net income $ 66,456 $ 69 839
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