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A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each
A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answers to the nearest whole percent.) $ SIMULTECH CORPORATION Income Statement (summarized) (in millions of U.S. dollars) Current Year Sales Revenues $ 2,062 100% Cost of Goods Sold 1,637 79 Selling, General, and Administrative Expenses 333 Other Operating Expenses Interest Expense Income before income taxes 1 Income Tax Expense 60 Net Income | $ 119 % Previous Year 2,200 100 % 1,721 346 12 26 95 33 627 $
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