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A condensed income statement for Koontz Productions and a partially completed vertical analysis follow. Required: 1. Complete the vertical analysis by computing each missing
A condensed income statement for Koontz Productions and a partially completed vertical analysis follow. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of net revenues. TIP: In the prior year, Cost of Goods Sold was 30 percent of Net Revenues, computed as ($1,391 $4,585). 2. Does Cost of Goods Sold, as a percentage of Net Revenues, represent better or worse performance in 2019 as compared to 2018? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the vertical analysis by computing each missing line item as a percentage of net revenues. TIP: In the prior year, Cost of Goods Sold was 30 percent of Net Revenues, computed as ($1,391 + $4,585). (Decreases should be indicated by a minus sign. Round your answers to the nearest whole percent.)
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