Charleston, Inc. had the following information: Year 2 Year 1 Net Sales 210,000 194,800 Cost of goods sold 128,000 140,600 Operating Expenses 34,400 23,000 Net Income 47,600 31,200 Using vertical analysis for Year 1, what is the percentage of cost of goods sold and operating expenses, respectively? Group of answer choices 11.8% and 27.8% 72.2% and 16.0% 16.0% and 11.8% 61.0% and 22.7% 61.0% and 16.4% 16.4% and 39.0% 72.2% and 11.8%
Charleston, Inc. had the following information: Year 2 Year 1 Net Sales 210,000 194,800 Cost of goods sold 128,000 140,600 Operating Expenses 34,400 23,000 Net Income 47,600 31,200 Using vertical analysis for Year 1, what is the percentage of cost of goods sold and operating expenses, respectively? Group of answer choices 11.8% and 27.8% 72.2% and 16.0% 16.0% and 11.8% 61.0% and 22.7% 61.0% and 16.4% 16.4% and 39.0% 72.2% and 11.8%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
58
Charleston, Inc. had the following information:
|
|
Year 2 |
Year 1 |
|
Net Sales |
210,000 |
194,800 |
|
Cost of goods sold |
128,000 |
140,600 |
|
Operating Expenses |
34,400 |
23,000 |
|
Net Income |
47,600 |
31,200 |
Using vertical analysis for Year 1, what is the percentage of cost of goods sold and operating expenses, respectively?
Group of answer choices
11.8% and 27.8%
72.2% and 16.0%
16.0% and 11.8%
61.0% and 22.7%
61.0% and 16.4%
16.4% and 39.0%
72.2% and 11.8%
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