Vertical Analysis Income statement information for Turay Corporation follows: Sales $200,000 Cost of merchandise sold 140,000 Gross profit 60,000 Prepare a vertical analysis of the income statement for Turay Corporation. Turay Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $200,000 % Cost of merchandise sold 140,000 % Gross profit $60,000 %

Vertical Analysis Income statement information for Turay Corporation follows: Sales $200,000 Cost of merchandise sold 140,000 Gross profit 60,000 Prepare a vertical analysis of the income statement for Turay Corporation. Turay Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $200,000 % Cost of merchandise sold 140,000 % Gross profit $60,000 %

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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Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Sales $10,850,000.00 $10,000,000.00 3 Cost of goods sold 6,000,000.00 5,450,000.00 4 Gross profit $4,850,000.00 $4,550,000.00 5 Selling expenses $2,170,000.00 $2,000,000.00 6 Administrative expenses 1,627,500.00 1,500,000.00 7 Total operating expenses $3,797,500.00 $3,500,000.00 8 Income from operations $1,052,500.00 $1,050,000.00 9 Other revenue 99,500.00 20,000.00 10 $1,152,000.00 $1,070,000.00 11 Other expense (interest) 132,000.00 120,000.00 12 Income before income tax $1,020,000.00 $950,000.00 13 Income tax expense 420,000.00 400,000.00 14 Net income $600,000.00 $550,000.00 Marshall Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 1 20Y2 20Y1 2 Assets…
Vertical Analysis Income statement information for Ivanoff Corporation follows: Sales $1,400,000 Cost of merchandise sold 812,000 Gross profit 588,000 Prepare a vertical analysis of the income statement for Ivanoff Corporation. Ivanoff Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $1,400,000 % Cost of merchandise sold 812,000 % Gross profit $588,000
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Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income Net sales Cost of goods sold Gross profit 2022 Selling expenses $754,000 465,218 122,148 61,828 33,176 71,630 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round answers to 1 decimal place, e.g. 48.5%.) BRAMBLE CORPORATION Condensed Income Statements For the Years Ended December 31 2022 Amount $754,000 465,218 288,782 2021 122.148 $605,000 392,645 69,575 54,450 21,780 66,550 Percent 100 % 65 % Amount % $605,000 392,645 % 212,355.0 69,575 2021 Percent 100 % % % %
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