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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
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 $ 3,025,000 53,475,000 Cost of goods sold 1.340,000 1,665,000 Gross profit 1,685,000 1,810,000 Operating expenses 740,000 790,000 Operating income 945,000 1,020,000 Other Income (expense) 79.500 (14,500) Income before tax 1,024 500 1,005,500 Income tax expense 234.000 209,000 Not income $ 790,500 $ 796,500 2. Use vertical analysis to compare the profitability of the two operating segments. Which segment is more profitable? Athletic equipment Accessories
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