Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%) BONITA CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income Amount $746,000 468,488 277,512 115,630 61.172 176,802 100,710 29,840 $70,870 Percent % % % % % % % % % Amount $605,000 387,200 217,800.0 67,760 55,660 123,420 94,380 29,040 $65,340 2021 Percent % % % % % % %
Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%) BONITA CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income Amount $746,000 468,488 277,512 115,630 61.172 176,802 100,710 29,840 $70,870 Percent % % % % % % % % % Amount $605,000 387,200 217,800.0 67,760 55,660 123,420 94,380 29,040 $65,340 2021 Percent % % % % % % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, eg. 48.5%)
BONITA CORPORATION
Condensed Income Statements
For the Years Ended December 31
2022
Net sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
lli
Total operating expenses
Income tax expense
Amount
Net income
$746,000
468,488
277,512
115,630
61.172
Income before income taxes 100,710
176,802
29,840
$70,870
Percent
%
%
%
%
%
%
%
%
%
Amount
$605,000
387,200
217,800.0
67.760
55,660
123,420
94,380
29,040
$65,340
2021
Percent
%
%
%
%
%
2
2
है
%
Transcribed Image Text:Operating data for Bonita Corporation are presented as follows.
Net sales
Cost of goods sold
Selling expenses
Administrative expenses
Income tax expense
Net income
2022
$746,000
468,488
115,630
61,172
29,840
70,870
2021
$605,000
387,200
67,760
55,660
29,040
65,340
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