ba. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers.
b. The vertical analysis indicates that the cost of goods sold as a percent of sales
increaseddecreased
by 5 percentage points, while selling expensesincreaseddecreased
by 2 percentage points, and administrative expenses increaseddecreased
by 2 percentage points. Thus, net income as a percent of salesincreaseddecreased
by 3 percentage points. 
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $405,000 $360,000 Cost of goods sold 230,850 187,200 Selling expenses 68,850 68,400 Administrative expenses 76,950 61,200 Income tax expense 12,150 18,000 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales if required, round percentages to one decimal place. Enter all amounts as positive numbers. Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Sales 5405,000 $360,000 Cost of goods sold 230,850 187,200 68.400 Selling expenses 68,850 Administrative expenses 76,950 61,200 12.150 15,000 Income tax expense ngageNOW2 Online teaching and learning resourc.. WHIC OF Stor Reve Cost of goods sold 230,850 187,200 Selling expenses 68,850 68,400 Administrative expenses 76,950 61,200 Income tax expense 12,150 18,000 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Ent all amounts as positive numbers. Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Sales $405,000 $360,000 Cost of goods sold 230,850 187,200 Selling expenses 63,850 Administrative expenses 76,950 DEDEUT 60,400 61,200 Income tax expense 12,150 18,000 b. The vertical analysis indicates that the cost of goods sold as a percent of sales by 2 percentage points, and administrative pense by 3 percentage points by 5 percentage points, wille selling expenses by 2 percentage points. Thus, net income as a percent of sales Previous Next Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $405,000 $360,000 Cost of goods sold 230,850 187,200 Selling expenses 68,850 68,400 Administrative expenses 26,950 61,200 Income tax expense 12,150 18,000 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one cecimal place. Enter all amounts as positive numbers Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Sales $405,000 100.000 100 Cost of goods sold 230,850 187,200 Crossfit 20. 68,650 76,950 68,400 61,200 Selling expenses Administrative expenses Total operating expenses Income from operations income taxe 12,150 1.000 Not Income Previo Next > Cost of goods sold 230,850 68,850 Selling expenses Administrative expenses Income tax expense 187,200 68.400 61,200 18,000 76,950 12,150 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales required, round percentages to one decimal place. Enter all amounts as positive numbers Innovation Quarter Inc Comparative Income Statement For the Year Ended December 31 Current year Amount Current year Percent Previous year Amount Previous Year Parent Sales $405,000 100 $360,000 Cost of goods sold 230,00 107,200 Gross profit 230,150 17.00 Seting expenses 68.050 68,400 Administrative expenses 76.950 61,200 Total operating spennen 1. Income from operations Income tax exe 12.150 18.00 Net income percentage, WONA beton het woon The vertical analysindicates that the coof goods wolna encanto by Dercentage points, and a by ertage No ma Sunt est for Grading AB Wave
