Please provide answer in text (Without image) A condensed Income statement for Simultech Corporation and a partially completed vertical analysis are presented below.Required:1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues.2. Does Simultech's Cost of Goods sold for the current year, as a percentage of revenues, represent better or worse performance ascompared to that for the previous year?3. Has Simultech's net profit margin increased, or decreased, over the two years?Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 2Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answersto the nearest whole percent.)SIMULTECH CORPORATIONIncome Statement (summarized)(in millions of U.S. dollars)Current YearSales RevenuesCost of Goods SoldSelling, General, and Administrative ExpensesOther Operating ExpensesInterest ExpenseIncome before Income Tax ExpenseIncome Tax ExpenseNet IncomeSS2,0621,637333532217611< Required 1100 %se se79 %3%%1%0%%$SPrevious Year2,2001,7213461226953362Required 2 >100 %%16 %1%1%%1%%

Each line item on the financial statement is expressed as a percentage of the base amount, which…

A condensed income statement for Simultech Corporation and a partially completed vertical a Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sale 2. Does Simultech's Cost of Goods sold for the current year, as a percentage of revenues, rep compared to that for the previous year? 3. Has Simultech's net profit margin increased, or decreased, over the two years?

A condensed income statement for Simultech Corporation and a partially completed vertical a Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sale 2. Does Simultech's Cost of Goods sold for the current year, as a percentage of revenues, rep compared to that for the previous year? 3. Has Simultech's net profit margin increased, or decreased, over the two years?

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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