Dennys CPA School provided the following vertical analysis of its income statements for 1999 and 2000: Percentage
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Denny’s CPA School provided the following vertical analysis of its income statements for 1999 and 2000:
Percentage of Revenues 1999 2000 Revenues 100% 100%
Salaries expense 40 45 Rentals expense 20 25 Books and supplies 10 10 Advertising 10 15 Operating income 20 5 Income tax 8 2 Net income 12 3 In addition, Denny’s tuition revenues were $500,000 in 1999 and $400,000 in 2000.
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Related Book For 
Financial Accounting Reporting And Analysis
ISBN: 9780324149999
6th Edition
Authors: Earl K. Stice, James Stice, Michael Diamond, James D. Stice
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