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es Game-On Sports operates in two distinct segments: athletic equipment and accessories. The income statement for each operating segment is presented below. Required: 1.
es Game-On Sports operates in two distinct segments: athletic equipment and accessories. The income statement for each operating segment is presented below. Required: 1. Complete the "%" columns to be used in a vertical analysis of Game-On Sports' two operating segments. Express each amount as a percentage of sales. (Round your percentage answers to 1 decimal place.) GAME-ON SPORTS Income Statement For the Year Ended December 31, 2021 Athletic Equipment Accessories Amount % Amount Net sales Cost of goods sold Gross profit Operating expenses $ 2,850,000 $ 3,300,000 1,270,000 1,630,000 1,580,000 1,670,000 670,000 720,000 Operating income 910,000 950,000 Other income (expense). 76,000 (11,000) Income before taxi 986,000 939,000 Income tax expense 227,000 202,000 Net income. $ 759,000 $ 737,000 2. Use vertical analysis to compare the profitability of the two operating segments. Which segment is more profitable? Accessories O Athletic equipment
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