Comm 204 - Financial Accounting Assignment #6 Chapters 10 & 11 Question 4 Junk Incorporated reports the following set of financial statements for 2018 and 2019 Required-Using the following information, performa vertical analysis for the income statement and balance sheet for 2018 and 2019: Junk Incorporated Income Statement For the Year Ended December 31, 2019 2019 2018 Sales Revenue Cost of goods sold Gross Margin S S $ 595,000 378,000 217,000 s $ s 634,000 353.000 281.000 Operating Expenses Selling and general expenses Interest expense Total expenses Net Income S s s $ 165,000 $ 15.200 S 180, 200 36,800 S 203.000 & 300 211.300 69,700 f S w Styles 233rant 6 Chapters 10 & 12 Junkce porated Balance Sheet December 11, 2019 2019 201R Assets cah Accounts Receivable Inventory Prepaid Expenses Tata Current Assets $ $ $ $ s 75,000 $ 25,000 5 65,000 S 17.000 5 17 000 s 95.000 26.000 53. DOO 10,500 184,500 Long Term Investments Property, plant and equipment, net Total Assets s s 5 185,000 362.000 S s s 143,000 327-500 Liabilities Accounts Payable Income Taxes Payable Other liabilities Total current liabilities 29,000 4,200 5 5 $ s 22.000 s 4,000 5 110.000 s 136,000 5 33,200 Long Term Debt Total Liabilities 5 s 19,900 155,900 s s 85,000 118,200 Shareholder Equity Common Shares Retained Earning Total Shareholders Equity Tata Liabilities & Shareholder's Equity 5 5 5 5 90,000 116,100 206100 362000 5 5 5 S 130,000 79.100 209 30D 327 500 7096 f W