Sales Cost of goods sold Gross Profit Operating expenses P800,000 480,000 320,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Sales
Cost of goods sold
P800,000
480,000
Gross Profit
320,000
Operating expenses
Selling
40,000
Administrative
80,000
Total
120,000
Profit before income tax 200,000
Income tax expense
60,000
Profit
P140,000
Required:
A. Prepare a vertical analysis of the income statement
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