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Current Attempt in Progress Operating data for Grouper Corp. are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $840,000 540,120 133,560 57,120 31,920 77,280 2021 $610,000 405,650 80,520 46,970 26,840 50,020 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)

Current Attempt in Progress Operating data for Grouper Corp. are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $840,000 540,120 133,560 57,120 31,920 77,280 2021 $610,000 405,650 80,520 46,970 26,840 50,020 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)

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Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income tax expense Amount Net income $840,000 540,120 299,880 133,560 57,120 Income before income taxes 109,200 190,680 31,920 $77,280 Condensed Income Statement 2022 Percent % % % % % % % Amount $610,000 405,650 204,350 80,520 46,970 127,490 76,860 26,840 % $50,020 2021 Percent % % % % % % % %
Transcribed Image Text:Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income tax expense Amount Net income $840,000 540,120 299,880 133,560 57,120 Income before income taxes 109,200 190,680 31,920 $77,280 Condensed Income Statement 2022 Percent % % % % % % % Amount $610,000 405,650 204,350 80,520 46,970 127,490 76,860 26,840 % $50,020 2021 Percent % % % % % % % %
Current Attempt in Progress Operating data for Grouper Corp. are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $840,000 540,120 133,560 57,120 31,920 77,280 2021 $610,000 405,650 80,520 46,970 26,840 50,020 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)
Transcribed Image Text:Current Attempt in Progress Operating data for Grouper Corp. are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $840,000 540,120 133,560 57,120 31,920 77,280 2021 $610,000 405,650 80,520 46,970 26,840 50,020 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)
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