Income statement data for Starr Canning Corporation are as follows: 2001 2000 Sales $1,400,000 $1,200,000 Cost of
Question:
Income statement data for Starr Canning Corporation are as follows:
2001 2000 Sales $1,400,000 $1,200,000 Cost of goods sold 850,000 730,000 Selling expenses 205,000 240,000 General expenses 140,000 100,000 Income tax expense 82,000 50,000 Required
a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales (vertical common-size analysis).
b. Comment on the findings in (a).
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Reporting And Analysis Using Financial Accounting Information
ISBN: 9780324023534
8th Edition
Authors: Charles H Gibson
Question Posted: