Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income Amount $1,015,000 592,760 422,240 163,415 102,515 265,930 156,310 62,524 $93,786 BLUE CORPORATION Condensed Income Statements 2022 Percent % % % % do % % % % % V Amount $815,000 472,700 342,300 113,285 83,130 196,415 145,885 58,354 $87,531 2021 Percent % % % % % % I % de % %

Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income Amount $1,015,000 592,760 422,240 163,415 102,515 265,930 156,310 62,524 $93,786 BLUE CORPORATION Condensed Income Statements 2022 Percent % % % % do % % % % % V Amount $815,000 472,700 342,300 113,285 83,130 196,415 145,885 58,354 $87,531 2021 Percent % % % % % % I % de % %

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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