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4 A condensed income statement for Corolla Corporation and a partially completed vertical analysis are presented below. Required: 4 points 1. Complete the vertical analysis
4 A condensed income statement for Corolla Corporation and a partially completed vertical analysis are presented below. Required: 4 points 1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. eBook 2. Does Corolla's Cost of Goods sold for the current year, as a percentage of revenues, represent better or worse performance as compared to that for the previous year? 3. Has Corolla's net profit margin increased, or decreased, over the two years? Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Required 3 Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answers to the nearest whole percent.) COROLLA CORPORATION Income Statement (summarized) (in millions of U.S. dollars) Sales Revenues Cost of Goods Sold Selling, General, and Administrative Expenses Other Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense Net Income Current Year $ 2,085 1,727 100% 83% $ Previous Year 2.155 100 1,631 243 96 310 14 % 45 2% 11 196 14 96 35 2% 56 3 % 168 96 5 0% 30 196 $ 51 % $ 138 Required 1 Required 2 >
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