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The publishing company's Income Statement is shown below: Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative expenses Total Expenses Operating Income Other Revenues and (Expenses): Interest Revenue Interest Expense Total Revenues and (Expenses) Income Before Taxes Income Tax Expense Net Income 2022 $10,000 3,800 $6,200 $1,000 670 $1,670 $4,530 0 -750 -750 $3,780 1,500 $2.280 Required: Prepare a vertical analysis report of the income statement. (Round percentage changes to two decimal place.)

The publishing company's Income Statement is shown below: Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative expenses Total Expenses Operating Income Other Revenues and (Expenses): Interest Revenue Interest Expense Total Revenues and (Expenses) Income Before Taxes Income Tax Expense Net Income 2022 $10,000 3,800 $6,200 $1,000 670 $1,670 $4,530 0 -750 -750 $3,780 1,500 $2.280 Required: Prepare a vertical analysis report of the income statement. (Round percentage changes to two decimal place.)

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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Question 2 The publishing company's Income Statement is shown below: Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative expenses Total Expenses Operating Income Other Revenues and (Expenses): Interest Revenue Interest Expense Total Revenues and (Expenses) Income Before Taxes Income Tax Expense Net Income 2022 $10,000 3,800 $6,200 $1,000 670 $1,670 $4,530 0 -750 -750 $3,780 1,500 $2,280 Required: Prepare a vertical analysis report of the income statement. (Round percentage changes to two decimal place.)
Transcribed Image Text:Question 2 The publishing company's Income Statement is shown below: Net Sales Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses Administrative expenses Total Expenses Operating Income Other Revenues and (Expenses): Interest Revenue Interest Expense Total Revenues and (Expenses) Income Before Taxes Income Tax Expense Net Income 2022 $10,000 3,800 $6,200 $1,000 670 $1,670 $4,530 0 -750 -750 $3,780 1,500 $2,280 Required: Prepare a vertical analysis report of the income statement. (Round percentage changes to two decimal place.)
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