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ABC Corp's income statement for the year is as follows: Item Amount ($) Revenue $1,000,000 Cost of Goods Sold $400,000 Gross Profit $600,000 Operating Expenses


  • ABC Corp's income statement for the year is as follows:

    ItemAmount ($)
    Revenue$1,000,000
    Cost of Goods Sold$400,000
    Gross Profit$600,000
    Operating Expenses$300,000
    Net Income$250,000

    Perform vertical analysis on the income statement and express each item as a percentage of revenue.

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