H1.Prepare a vertical analysis of the income statement below: (round to one decimal place) Murphy HoldingsIncome StatementFor the period ending June 30, 2023 Revenues $182,100Wage Expense 49,200Rent Expense 25,575Utilities Expense 18,500Depreciation Expense 13,000Supply Expense 3,000Insurance Expense 600Miscellaneous expense 3,250Net Income $68,975 Question 2Prepare a vertical analysis of the income statement below: (round to one decimal place)RevenuesWage expenseRent expenseUtilities expenseDepreciation expenseSupply expenseInsurance expenseMiscellaneous expenseNet incomeMurphy HoldingsIncome StatementFor the period ending June 30, 2023$182,10049,20025,57518,50013,0003,0006003,250$68,975

Vertical analysis is the financial statement analysis wherein one line item is taken as base (for…

Prepare a vertical analysis of the income statement below: (round to one decimal place) Revenues Wage expense Rent expense Utilities expense Depreciation expense Supply expense Insurance expense Miscellaneous expense Net income Murphy Holdings Income Statement For the period ending June 30, 2023 $182,100 49,200 25,575 18,500 13,000 3,000 600 3,250 $68,975

Prepare a vertical analysis of the income statement below: (round to one decimal place) Revenues Wage expense Rent expense Utilities expense Depreciation expense Supply expense Insurance expense Miscellaneous expense Net income Murphy Holdings Income Statement For the period ending June 30, 2023 $182,100 49,200 25,575 18,500 13,000 3,000 600 3,250 $68,975

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 11MCQ

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