Vertical analysis (common-size) percentages for Cullumber Company’s sales revenue, cost of goods sold, and expenses are listed here. Vertical Analysis 2022 2021 2020 Sales revenue 100.0 % 100.0 % 100.0 % Cost of goods sold 60.0 64.2 65.6 Expenses 24.7 27.1 29.5 Calculate Cullumber’s net income as a percent of sales. (Round answers to 1 decimal place, e.g. 5.2.) 2022 2021 2020 Net income Enter percentages rounded to 1 decimal place. Enter percentages rounded to 1 decimal place. Enter percentages rounded to 1 decimal place. Did Cullumber’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Cullumber’s net income as a percent of sales Choose the correct answer increaseddecreasedremained unchanged
Vertical analysis (common-size) percentages for Cullumber Company’s sales revenue, cost of goods sold, and expenses are listed here. Vertical Analysis 2022 2021 2020 Sales revenue 100.0 % 100.0 % 100.0 % Cost of goods sold 60.0 64.2 65.6 Expenses 24.7 27.1 29.5 Calculate Cullumber’s net income as a percent of sales. (Round answers to 1 decimal place, e.g. 5.2.) 2022 2021 2020 Net income Enter percentages rounded to 1 decimal place. Enter percentages rounded to 1 decimal place. Enter percentages rounded to 1 decimal place. Did Cullumber’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Cullumber’s net income as a percent of sales Choose the correct answer increaseddecreasedremained unchanged
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Vertical analysis (common-size) percentages for Cullumber Company’s sales revenue, cost of goods sold, and expenses are listed here.
|
Vertical Analysis
|
2022
|
2021
|
2020
|
||||||
|---|---|---|---|---|---|---|---|---|---|
|
Sales revenue
|
100.0
|
% |
100.0
|
% |
100.0
|
% | |||
|
Cost of goods sold
|
60.0
|
64.2
|
65.6
|
||||||
|
Expenses
|
24.7
|
27.1
|
29.5
|
Calculate Cullumber’s net income as a percent of sales. (Round answers to 1 decimal place, e.g. 5.2.)
|
2022
|
2021
|
2020
|
||||
|---|---|---|---|---|---|---|
|
Net income
|
Enter percentages rounded to 1 decimal place. | Enter percentages rounded to 1 decimal place. | Enter percentages rounded to 1 decimal place. |
Did Cullumber’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period?
|
Cullumber’s net income as a percent of sales
|
Choose the correct answer increaseddecreasedremained unchanged |
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