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The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required:

The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required:

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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Vishanu

The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a vertical analysis of the data for 2025 and 2024. Note: Round your percentage answers to 1 decimal place. Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income FEDERER SPORTS APPAREL Income Statements For the Years Ended December 31 2025 $ $ Amount 19,000 13,210 5,790 1,620 1,020 220 1,510 1,420 455 965 % $ LA $ Amount 2024 15,600 7,067 8,533 1,217 1,030 0 312 5,975 2,028 3,947 %
Transcribed Image Text:The income statements for Federer Sports Apparel for 2025 and 2024 are presented below. Required: Prepare a vertical analysis of the data for 2025 and 2024. Note: Round your percentage answers to 1 decimal place. Net sales Cost of goods sold Gross profit Operating expenses Depreciation expense Inventory write-down Loss (litigation) Income before tax Income tax expense Net income FEDERER SPORTS APPAREL Income Statements For the Years Ended December 31 2025 $ $ Amount 19,000 13,210 5,790 1,620 1,020 220 1,510 1,420 455 965 % $ LA $ Amount 2024 15,600 7,067 8,533 1,217 1,030 0 312 5,975 2,028 3,947 %
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