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Adams Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percent of sales. Note: Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4). Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income ADAMS COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales for Year 4 100.0 % $ $ X Answer is not complete. 999,500 549,725 449,775 129,400 320,375 81,000 239,375 % Year 3 $ 1,081,500 598,400 483,100 152,000 331,100 80,400 250,700 $ Percentage of Sales for Year 3 100.0 % %

Adams Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percent of sales. Note: Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4). Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income ADAMS COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales for Year 4 100.0 % $ $ X Answer is not complete. 999,500 549,725 449,775 129,400 320,375 81,000 239,375 % Year 3 $ 1,081,500 598,400 483,100 152,000 331,100 80,400 250,700 $ Percentage of Sales for Year 3 100.0 % %

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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Adams Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percent of sales. Note: Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4). Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income ADAMS COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales for Year 4 100.0 % $ $ X Answer is not complete. 999,500 549,725 449,775 129,400 320,375 81,000 239,375 % $ $ Year 3 1,081,500 598,400 483,100 152,000 331,100 80,400 250,700 Percentage of Sales for Year 3 100.0 % %
Transcribed Image Text:Adams Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percent of sales. Note: Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4). Sales Cost of goods sold Gross margin on sales Operating expenses Income before taxes Income taxes Net income ADAMS COMPANY Vertical Analysis of Income Statements Year 4 Percentage of Sales for Year 4 100.0 % $ $ X Answer is not complete. 999,500 549,725 449,775 129,400 320,375 81,000 239,375 % $ $ Year 3 1,081,500 598,400 483,100 152,000 331,100 80,400 250,700 Percentage of Sales for Year 3 100.0 % %
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