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McKenzie Sales, Ltd. Comparative Income Statement Sales Cost of goods sold Gross margin This Year Last Year $ 7,360,000 $5,593,600 4,760,000 3,511,000 2,600,000 2,082,600

McKenzie Sales, Ltd. Comparative Income Statement Sales Cost of goods sold Gross margin This Year Last Year $ 7,360,000 $5,593,600 4,760,000 3,511,000 2,600,000 2,082,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Vertical Analysis McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $ Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes $ 7,360,000 $5,593,600 4,760,000 3,511,000 2,600,000 2,082,600 1,384,000 1,081,500 709,000 615,000 2,093,000 1,696,500 507,000 386,100 96,000 90,000 411,000 $ 296,100
Transcribed Image Text:Vertical Analysis McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $ Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes $ 7,360,000 $5,593,600 4,760,000 3,511,000 2,600,000 2,082,600 1,384,000 1,081,500 709,000 615,000 2,093,000 1,696,500 507,000 386,100 96,000 90,000 411,000 $ 296,100
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