Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
Question
Selected data (in thousands) from the statement of income of Pembina Inc. are shown below. Using vertical analysis, calculate the
percentage of the base amount for each year. (Round answers to 1 decimal place, e.g. 5.2%.)
Sales
2024
2023
Amount
Percentage
Amount
Percentage
%
%
$1,933
$2,094
%
%
1,683
do
%
୫୧
%
331
411
%
%
217
209
do
%
%
202
Cost of goods sold
1,602
Gross profit
Operating expenses
Income before income tax
114
%
Income tax expense
23
23
40
40
%
%
%
Net income
$91
$162
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Transcribed Image Text:Selected data (in thousands) from the statement of income of Pembina Inc. are shown below. Using vertical analysis, calculate the percentage of the base amount for each year. (Round answers to 1 decimal place, e.g. 5.2%.) Sales 2024 2023 Amount Percentage Amount Percentage % % $1,933 $2,094 % % 1,683 do % ୫୧ % 331 411 % % 217 209 do % % 202 Cost of goods sold 1,602 Gross profit Operating expenses Income before income tax 114 % Income tax expense 23 23 40 40 % % % Net income $91 $162
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