FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Prepare a comparative income statement for 20X2 and 20X1 using vertical analysis, and|
Problem 2
VERTICAL ANALYSIS. The Lyons Corporation reported the following income stateme
data:
20X2
20X1
Net sales
$400.000
$250.000
Cost of goods sold
$280.000
S160.000
Operating expenses
S75.000
$56.000
Requirement:
Prepare a comparative income statement for 20X2 and 20X1 using vertical analysis, ana
evaluate the results.
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Transcribed Image Text:Prepare a comparative income statement for 20X2 and 20X1 using vertical analysis, and| Problem 2 VERTICAL ANALYSIS. The Lyons Corporation reported the following income stateme data: 20X2 20X1 Net sales $400.000 $250.000 Cost of goods sold $280.000 S160.000 Operating expenses S75.000 $56.000 Requirement: Prepare a comparative income statement for 20X2 and 20X1 using vertical analysis, ana evaluate the results.
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