The following income statement and vertical analysis data are available for Westman Company: Westman Company Consolidated Income
Question:
The following income statement and vertical analysis data are available for Westman Company:
Westman Company
Consolidated Income Statements
(In thousands)
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1. Suggest why net income increased from $92,500 to $414,900 while the cost of goods sold percentage increased each year and selling and administrative expenses have decreased.
2. Explain what could cause sales to increase while the gross margin percentage decreases?
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1 Net income has increased primarily becausethe selling and administrativ...View the full answer
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